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Sheena Maskell Sheena Maskell
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Elaine owns an unincorporated manufacturing business. In 2010, she purchases and places in service $460,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any section 179 deduction is $70,000. Elaine takes the maximum allowable deduction under section 179. Which of the following statements is true regarding the section 179 election?
A) Elaine can deduct $128,000 as a section 179 deduction in 2010.
B) Elaine can deduct $250,000 as a section 179 deduction in 2010.
C) Elaine can deduct $70,000 as a section 179 deduction in 2010; $180,000 may be carried over to next year.
D) Elaine can deduct $70,000 as a section 179 deduction in 2010 with no carryover to next year.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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Yoko900Yoko900
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