On July 17, 2016, Elise purchases office furniture (7 year) costing $50,000 for use in her business.
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On July 17, 2016, Elise purchases office furniture (7 year) costing $50,000 for use in her business. She wishes to use the section 179 election. Her taxable income before depreciation deduction is $25,000. What is the max total cost recovery deduction Elise can take for the current year?
Related Book For
Concepts in Federal Taxation 2017
ISBN: 9781305965119
24th edition
Authors: Kevin E. Murphy, Mark Higgins
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