Which of the following statements regarding Sec. 179 is true?
A) If a taxpayer places in service property costing more than the Sec. 179 ceiling on the amount of property placed in service, the excess can be carried over to subsequent years.
B) Sec. 179 carryforwards expire after five years.
C) Amounts of the Sec. 179 election in excess of the taxable income limitation are carried forward.
D) All of the above statements are true.
Correct Answer:
Verified
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