Question: How the section 179 and bonus depreciation deductions work. Include in your discussion: What types of property are eligible under each? Are there any limits

How the section 179 and bonus depreciation deductions work. Include in your discussion:

  1. What types of property are eligible under each?

  1. Are there any limits on the deduction? If so, can you carry over any amounts to future years?

  1. What will happen to the bonus depreciation deduction in future years?

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