Rustin bought used 7-year class property on May 15, 2014, for $72,000. Rustin elects § 179 and straightline cost recovery. Rustin's taxable income would not create a limitation for purposes of the § 179 deduction. Determine the maximum write-off Rustin can take in 2014.

Question

Rustin bought used 7-year class property on May 15, 2014, for $72,000. Rustin elects § 179 and straight­line cost recovery. Rustin's taxable income would not create a limitation for purposes of the § 179 deduction. Determine the maximum write-off Rustin can take in 2014.

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The Answer of Rustin bought used 7-year class property on May 15, 2014, for $72,000. Rustin elects § 179 and straight­line cost recovery. Rustin's taxable income would not create a limitation for purposes of the § 179 deduction. Determine the maximum write-off Rustin can take in 2014.

Rustin Bought Used 7-Year Class Property on May 15, 2014