On August 11,2016,Nancy acquired and placed into service residential rental property,which cost $430,000;the cost of the land has been excluded.Nancy annually elects the maximum allowed Sec.179 deduction.The total depreciation for the year is (rounded)
A)$5,865.
B)$4,141.
C)$5,117.
D)$15,636.

Question

Quizplus · Accepted Answer

The maximum Sec.179 deduction for 2016 is $500,000.Nancy can deduct the entire cost of the property, $430,000, under Sec.179.The remaining basis of the property is $0.Therefore,no depreciation is allowable.

On August 11,2016,Nancy Acquired and Placed into Service Residential Rental