McKenzie purchased qualifying equipment for his business that cost $212,000 in 2017. The taxable income of the
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McKenzie purchased qualifying equipment for his business that cost $212,000 in 2017. The taxable income of the business for the year is $5,600 before consideration of any § 179 deduction. Calculate McKenzie’s § 179 expense deduction for 2017 and any carryover to 2018.
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In 2017 179 permits the taxpayer to elect to deduct up to 510000 of the acq...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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