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What amount is the taxpayer section expense for year

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Problem 1: In Year 4, an individual taxpayer purchased qualifying depreciable property for $2,800,000 and is making an election under Section 179. Assume the statutory maximum Section 179 expense is $1,020,000 with a $2,550,000 phase-out threshold. What amount, if any, is the taxpayer's Section 179 expense for Year 4?

A. $250,000

B. $520,000

C. $770,000

D. $1,020,000

Reference no: EM132824948

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