What is janes section 179 expense deduction

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Reference no: EM134007545

Problem

This year, Jane inherited a business asset from a deceased relative. At the time of the relative's death, the asset had a fair market value of $40,000 and an adjusted basis of $5,000. Get the instant assignment help. Assuming that this was the only asset that Jane placed in service in her business this year, what is Jane's Section 179 expense deduction?

Reference no: EM134007545

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