Jeremiah owns a ship building business in Fort Myers, FL. He has purchased heavy machinery for $875,000
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Jeremiah owns a ship building business in Fort Myers, FL. He has purchased heavy machinery for $875,000 in March 2023. The machinery is the only asset that was purchased in 2023. What is Jeremiah's available depreciation deduction in 2023 under Section 179? Assume that Jeremiah elects out of using bonus depreciation for 7-year property. How would your answer change if Jeremiah paid $2,900,000 for the machinery
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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