During 2021, Leah places $2,800,000 of Section 179 property in service for use in her manufacturing business. Leah would like to take the maximum amount of Section 179 deduction (before considering any regular depreciation or bonus depreciation). How much Section 179 deduction is she eligible to take on her 2021 tax return? options: a.) $2,620,000 b.) $0 c.) $2,440,000 d.) $1,050,000 e.) $870,000
During 2021, Leah places $2,800,000 of Section 179 property in service for use in her manufacturing business. Leah would like to take the maximum amount of Section 179 deduction (before considering any regular depreciation or bonus depreciation). How much Section 179 deduction is she eligible to take on her 2021 tax return? options: a.) $2,620,000 b.) $0 c.) $2,440,000 d.) $1,050,000 e.) $870,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2021, Leah places $2,800,000 of Section 179 property in service for use in her manufacturing business. Leah would like to take the maximum amount of Section 179 deduction (before considering any regular
options:
a.) $2,620,000
b.) $0
c.) $2,440,000
d.) $1,050,000
e.) $870,000
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