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Author Question: Ilene owns an unincorporated manufacturing business. In 2016, she purchases and places in service ... (Read 102 times)

bobbysung

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on: Sep 13, 2020

Question 1

If the business usage of listed property is less than or equal to 50% of its total usage, depreciation is calculated using the
◦ regular MACRS tables.
◦ alternative depreciation system.
◦ it may not be depreciated.
◦ regular MACRS tables and a mid-month convention.

Question 2

Ilene owns an unincorporated manufacturing business. In 2016, she purchases and places in service $2,016,000 of qualifying five-year equipment for use in her business. The property does not qualify for bonus depreciation. Her taxable income from the business before any Sec. 179 deduction is $400,000. Elaine takes the maximum allowable deduction under section 179. Which of the following statements is true regarding the Sec. 179 election?
◦ Ilene can deduct $500,000 as a section 179 deduction in 2016, with no carryover to next year.
◦ Ilene can deduct $494,000 as a section 179 deduction in 2016, with a $6,000 carryover to next year.
◦ IIene can deduct $400,000 as a section 179 deduction in 2016; $94,000 may be carried over to next year.
◦ Ilene can deduct $400,000 as a section 179 deduction in 2016 ,with no carryover to next year.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by bobbysung on Sep 13, 2020

bpool94

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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bobbysung

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

xiazhe

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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