In 2013 alex a calendar-year taxpayer purchased business

Reference no: EM13575290

In 2013, Alex, a calendar-year taxpayer, purchased business equipment (5-year property) for $700,000. The property was placed in service in January 2013 (and is being used exclusively in Alex extremely profitable business). No other personal property is purchased by Alex in 2013. What is the most that Alex may deduct in 2013 under Section 179 of the Code (ignore any potential deductions resulting from bonus deprecation or MACRS)? a. $140,000 b. $200,000 c. $500,000 d. $700,000

Assume the same facts as in the previous question. However, for this question, assume that Alex purchased the business equipment for $2,300,000 (instead of $700,000). What is the most that may be deducted in 2013 under Section 179 of the Code (ignore any potential deductions resulting from bonus deprecation or MACRS)? a. $200,000 b. $460,000 c. $500,000 d. $2,300,000

Reference no: EM13575290

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