ABC Corporation purchased various items of depreciable tangible personal propertywith a total cost of $3.26 millionfor use
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ABC Corporation purchased various items of depreciable tangible personal property—with a total cost of $3.26 million—for use in its business in 2022. Assume that ABC has taxable income (without regard to the Section 179 expense) of $290,500 this year. What is the maximum Section 179 deduction that ABC may claim in the current year?
A) $290,500
B) $3,260,000
C) $450,000
D) $150,000
Related Book For
Principles Of Taxation For Business And Investment Planning 2018
ISBN: 9781259713729
21st Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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