Rustin bought used 7-year class property on May 15, 2010, for $500,000. Rustin elects 179 and
Question:
Rustin bought used 7-year class property on May 15, 2010, for $500,000. Rustin elects § 179 and straight-line cost recovery. Rustin’s taxable income would not create a limitation for purposes of the § 179 deduction. If Congress reenacts additional first-year depreciation for 2010, Rustin elects not to take additional first-year depreciation. Compute the write-off Rustin can take in 2010.
Step by Step Answer:
Computation of the Write off of Rustin can take in 2010 179 ...View the full answer
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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