Littman LLC placed in service on July 29,2017 machinery and equipment (7-year property)with a basis of $600,000.Littman's income for the current year before any depreciation expense was $100,000.Which of the following statements is true to maximize Littman's total depreciation expense for 2017? (Use MACRS Table 1 in the text)
A) Littman should take §179 expense equal to the maximum $510,000.
B) Littman should take no §179 expense.
C) Littman's §179 expense will be greater than $100,000.
D) Littmen's §179 expense will be less than $100,000.
E) None of the choices are correct.

Question

Littman LLC placed in service on July 29,2017 machinery and equipment (7-year property)with a basis of $600,000.Littman's income for the current year before any depreciation expense was $100,000.Which of the following statements is true to maximize Littman's total depreciation expense for 2017? (Use MACRS Table 1 in the text)
A) Littman should take §179 expense equal to the maximum $510,000.
B) Littman should take no §179 expense.
C) Littman's §179 expense will be greater than $100,000.
D) Littmen's §179 expense will be less than $100,000.
E) None of the choices are correct.

Quizplus · Accepted Answer

The Answer of Littman LLC placed in service on July 29,2017 machinery and equipment (7-year property)with a basis of $600,000.Littman's income for the current year before any depreciation expense was $100,000.Which of the following statements is true to maximize Littman's total depreciation expense for 2017? (Use MACRS Table 1 in the text)
A) Littman should take §179 expense equal to the maximum $510,000.
B) Littman should take no §179 expense.
C) Littman's §179 expense will be greater than $100,000.
D) Littmen's §179 expense will be less than $100,000.
E) None of the choices are correct.

Littman LLC Placed in Service on July 29,2017 Machinery and Equipment