On June 15, 2019, Chang purchases $2,837,000 of equipment (7-year property) for use in her business. It

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On June 15, 2019, Chang purchases $2,837,000 of equipment (7-year property) for use in her business. It is her only purchase of business property in 2019. Chang has taxable income from her business of $2.5 million before any cost recovery.

Assuming Chang elects the maximum Section 179 deduction allowable and elects out of bonus depreciation, what is her total 2019 cost recovery?

Related Book For answer-question

Taxation of Individuals 2017

ISBN: 9781259548666

8th edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Posted Date: Sep 14, 2020 11:30 PM

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On June 15, 2019, Chang purchases $2,837,000 of equipment (7-year property) for use in her business. It

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Taxation of Individuals 2017

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