Betsy acquired a new network system on June 5, 2015 (5-year class property) for $75,000. She expects

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Betsy acquired a new network system on June 5, 2015 (5-year class property) for $75,000. She expects taxable income from the business will always be about $175,000 without regard to the §179 election. Betsy will elect §179 expensing. She also acquired 7-year property in July 2015 for $350,000. Determine Betsy's maximum cost recovery deduction with respect to her purchases in 2015:

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Fundamentals Of Taxation 2016

ISBN: 9781259812774

9th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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