David operates his business as a sole proprietorship. In 2017, he spends $20,000 for a used machine
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David operates his business as a sole proprietorship. In 2017, he spends $20,000 for a used machine (7-year property). His business income, before consideration of any Section 179 deduction, is $17,000. David elects to expense $20,000 under Section 179. Calculate his total depreciation deduction for 2017.
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Related Book For
Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
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