On January 1,2011,Rusty,a sole proprietor,purchased for use in his business a new production machine (7-year property)at a cost of $60,000.Rusty did not purchase any other property during 2011 and has net income from his business of $80,000.The standard double-declining balance recovery period table would allow $8,574 of depreciation expense on the $60,000 of equipment purchased in 2011.What is Rusty's maximum depreciation deduction for 2011 if he elects to use a double-declining balance recovery period table,including the amount that could be deducted under the election to expense (Section 179)?

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The Answer of On January 1,2011,Rusty,a sole proprietor,purchased for use in his business a new production machine (7-year property)at a cost of $60,000.Rusty did not purchase any other property during 2011 and has net income from his business of $80,000.The standard double-declining balance recovery period table would allow $8,574 of depreciation expense on the $60,000 of equipment purchased in 2011.What is Rusty's maximum depreciation deduction for 2011 if he elects to use a double-declining balance recovery period table,including the amount that could be deducted under the election to expense (Section 179)?

On January 1,2011,Rusty,a Sole Proprietor,purchased for Use in His Business