Sophie owns an unincorporated manufacturing business. In 2018, she purchases and places in service $2,507,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any Sec. 179 deduction is $940,000. Sophie elects to expense the maximum under Sec. 179 and does not apply bonus depreciation. What is Sophie's maximum total cost recovery deduction for 2018?
A. $1,242,800
B. $1,301,400
C. $993,000
D. $940,000
Answer: A
You might also like to view...
Nielsen uses audimeters attached to television sets to continually record what channel the set is tuned to. This is an example of ________
A) mechanical observation B) personal observation C) content analysis D) trace analysis
________ involves requiring a crowd to evaluate and filter their ideas into a viable product or plan
Fill in the blank(s) with correct word
Trevor's operates The Spicy Chocolatier Café chain of restaurants. "The Spicy Chocolatier Café" is a
a. certification mark. b. collective mark. c. service mark. d. trade name.
A company paid cash dividends on its preferred stock of $40,000 in the current year when its net income was $120,000 and its average common stockholders' equity was $640,000. What is the company's return on common stockholders' equity?
What will be an ideal response?