Compute section 179 deduction and taxable income, Taxation

Loni Company paid $ 527,000 for tangible personalty in 2011 and elected to expense $ 500,000 of the cost (the limited dollar amount for 2011). Loni's taxable income before a Section 179 deduction was $ 394,100. Loni paid $63,700 for tangible personalty in 2012 and elected to expense the entire cost. Loni's taxable income before a Section 179 deduction was $ 228,000. 

Compute Loni's Section 179 deduction and taxable income for 2011

 

Posted Date: 2/19/2014 1:38:31 AM | Location : United States







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