The § 179 deduction can exceed $139,000 in 2012 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year.
Correct Answer:
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Q4: The cost recovery basis for property converted
Q18: Taxpayers may elect to use the straight-line
Q18: Under the MACRS straight-line election for personalty,
Q18: Antiques may be eligible for cost recovery
Q21: If a used $15,000 automobile used 100%
Q22: MACRS depreciation is used to compute earnings
Q25: If a taxpayer uses regular MACRS for
Q26: The inclusion amount for a leased automobile
Q26: The costs of qualified leasehold improvements qualify
Q27: If an automobile is placed in service
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