On July 17, 2019, Ari purchases office furniture (7-year property) costing $50,000 for use in her business. She wishes to use the Section 179 election but does not elect to use bonus depreciation. Her taxable income before the Section 179 depreciation deduction is $25,000. What is the maximum total cost recovery deduction Ari can take for the current year?
On July 17, 2019, Ari purchases office furniture (7-year property) costing $50,000 for use in her business. She wishes to use the Section 179 election but does not elect to use bonus depreciation. Her taxable income before the Section 179 depreciation deduction is $25,000. What is the maximum total cost recovery deduction Ari can take for the current year?
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 27P
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On July 17, 2019, Ari purchases office furniture (7-year property) costing $50,000 for use in her business. She wishes to use the Section 179 election but does not elect to use bonus
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