In 2013,Gail had a § 179 deduction carryover of $30,000.In 2014,she elected § 179 for an asset acquired at a cost of $115,000.Gail's § 179 business income limitation for 2014 is $140,000.Determine Gail's § 179 deduction for 2014.
A)$25,000
B)$35,000
C)$40,000
D)$55,000
E)None of these

Question

Quizplus · Accepted Answer

$25,000;$30,000 + $25,000 limited to a maximum of $25,000 in 2014.

In 2013,Gail Had a § 179 Deduction Carryover of $30,000