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.
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