lmcglash6002 lmcglash6002

03-01-2023
Business

Answered

abc corporation purchased various items of depreciable tangible personal property, with a total cost of $3.26 million, for use in its business during 2022. assume that abc has taxable income (without regard to the section 179 expense) of $290,500 this year. what is the maximum section 179 deduction that abc may claim in the current year? a) $520,000 b) $290,500 c) $3,260,000 d) $1,080,000

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