McKenzie purchased qualifying equipment for his business that cost $212,000 in 2016. The taxable income of the

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McKenzie purchased qualifying equipment for his business that cost $212,000 in 2016. The taxable income of the business for the year is $5,600 before consideration of any § 179 deduction. Calculate McKenzie's § 179 expense deduction for 2016 and any carryover to 2017.
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South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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