Dolly purchased and placed into service qualifying depreciable property in 2016 at a total cost of $2,250,000.

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Dolly purchased and placed into service qualifying depreciable property in 2016 at a total cost of $2,250,000. Dolly has elected to take the § 179 deduction. What is Dolly’s § 179 deduction for 2016?

a. $0
b. $260,000
c. $500,000
d. $1,750,000

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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Question Posted: Sep 30, 2023 11:18 AM

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Dolly purchased and placed into service qualifying depreciable property in 2016 at a total cost of $2,250,000.

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The answer is c 500000 The 179 deduction allows businesses to deduct the full c...View the full answer

South Western Federal Taxation 2017 Comprehensive

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