Chapter 8, Problem 8MCQ

Which of the following is not considered a limit on the immediate expensing election of Section 179?

1. Fifty percent of qualified improvement property
2. Total Section 179 -eligible property acquired in excess of $3,570,000
3. The taxable income of the taxpayer considering all income and deductions except for Section 179 immediate expensing
4. An annual limit of $1,020,000
5. None of the above