Multiple Choice
In 2017, Gail had a § 179 deduction carryover of $30,000. In 2018, she elected § 179 for an asset acquired at a cost of $115,000. Gail's § 179 business income limitation for 2018 is $140,000. Determine Gail's § 179 deduction for 2018.
A) $25,000
B) $115,000
C) $130,000
D) $140,000
E) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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