In Year 4, an individual taxpayer purchased qualifying depreciable property for $2,800,000 and is making an election
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Question:
In Year 4, an individual taxpayer purchased qualifying depreciable property for $2,800,000 and is making an election under Section 179. Assume the statutory maximum Section 179 expense is $1,050,000 with a $2,620,000 phase-out threshold. What amount , if any, is the taxpayer's Section 179 expense for Year 4?
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