Tessa owns an unincorporated manufacturing business.In 2014,she purchases and places in service $207,000 of qualifying five-year equipment for use in her business.Her taxable income from the business before any Sec.179 deduction is $15,000.Tessa elects to expense the maximum under Sec.179.What is Tessa's maximum total cost recovery deduction for 2014?
A) $53,400
B) $52,800
C) $15,000
D) $41,400
Correct Answer:
Verified
Q35: When depreciating 5-year property,the final year of
Q49: On October 2,2014,Dave acquired and placed into
Q49: For real property placed in service after
Q50: Fred purchases and places in service in
Q51: Cate purchases and places in service property
Q52: In April 2014,Emma acquired a machine for
Q53: Harrison acquires $65,000 of 5-year property in
Q56: On January 3,2011,John acquired and placed into
Q58: In November 2014,Kendall purchases a computer for
Q59: Ilene owns an unincorporated manufacturing business.In 2014,she
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents