W&F Company, a calendar year taxpayer, purchased a total of $2,034,700 tangible personalty in 2018. How much of this cost can W&F elect to expense under Section 179?
A) -0-
B) $34,700
C) $965,300
D) $1,000,000

Question

W&F Company, a calendar year taxpayer, purchased a total of $2,034,700 tangible personalty in 2018. How much of this cost can W&F elect to expense under Section 179? 
A) -0-
B) $34,700
C) $965,300
D) $1,000,000

Quizplus · Accepted Answer

W&F can elect to expense $965,300 of the cost ($1,000,000 limited dollar amount - [$2,534,700 - $2,500,000]).

W&F Company, a Calendar Year Taxpayer, Purchased a Total of $2,034,700