In April 2019, Lenape Corporation completed security, fire, and heating system improvements to existing nonresidential real property
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In April 2019, Lenape Corporation completed security, fire, and heating system improvements to existing nonresidential real property with a total cost of $1,275,000. Assuming these improvements are 39- year recovery property and qualify for the Section 179 deduction, calculate Lenape’s total cost recovery on the improvements for 2019.
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Total cost of qualifying improvements 1275000 Section 179 election2019 dollar amount ...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2020
ISBN: 9781259969546
23rd Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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