During 2013,Travis purchases $130,000 of used manufacturing equipment 7-year property)for use in his business.Travis has taxable income from his business of $500,000.What is the maximum amount that Travis may deduct under the election to expense?

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Quizplus · Accepted Answer

In 2013, under Section 179, Travis can elect to expense up to $500,000 of qualifying property. Since the equipment cost is $130,000, he can deduct the full amount.

During 2013,Travis Purchases $130,000 of Used Manufacturing Equipment 7-Year Property)for