Rustin bought used 7-year class property on May 15,2014,for $72,000.Rustin elects § 179 and straightline cost recovery.Rustin's taxable income would not create a limitation for purposes of the § 179 deduction.Determine the maximum write-off Rustin can take in 2014.

Question

Quizplus · Accepted Answer

The Answer of Rustin bought used 7-year class property on May 15,2014,for $72,000.Rustin elects § 179 and straight­line cost recovery.Rustin's taxable income would not create a limitation for purposes of the § 179 deduction.Determine the maximum write-off Rustin can take in 2014.

Rustin Bought Used 7-Year Class Property on May 15,2014,for $72,000