Nicole purchased new equipment for her business on February 1, 2022. The equipment cost $32,925. She did not place any other property in service. What amount may Nicole deduct under section 179 in in the current tax year and what is the basis of her equipment on January 1 of the following tax year?

Answer rating: 100% (QA)

Section 179 Deduction and Equipment Basis for Nicole For the 2022 tax yea... View the full answer