Good Time Microbrew, a general partnership, elects to expense $1,050,000 of new assets. Lawrence owns a 40%

Fantastic news! We've Found the answer you've been seeking!

Question:

Good Time Microbrew, a general partnership, elects to expense $1,050,000 of new assets. Lawrence owns a 40% interest in the partnership; therefore, a $420000 179 deduction is pass through to him. Lawrence also has a sole proprietorship and purchased $660000 of eligible 179 property. What is the maximum 179 deduction Lawrence can elect for his sole proprietorship so he doesn't lose any of the 179 deductions passed through from the partnership?

A. $630000

B. 660000

C. 1050000

D. 1080000