Fariq purchases and places in service in 2017 personal property costing $2,051,000.The property does not qualify for bonus depreciation.What is the maximum Sec.179 deduction that Fariq can deduct,ignoring any taxable income limitation?
A)$510,000
B)$0
C)$489,000
D)$479,000

Question

Quizplus · Accepted Answer

C)$2,051,000 - $2,030,000 limitation on property placed in service equals $21,000 reduction in Sec.179 deduction.$510,000 - $21,000 equals $489,000 maximum deduction.

Fariq Purchases and Places in Service in 2017 Personal Property