Calculate the maximum amount of section deduction

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Question - Mary is a single person and the sole shareholder of A Company, Inc., an S Corporation, as well as a 50% shareholder in B Company, Inc., also an S Corporation. During the 2021 tax year, the companies placed in service the following Section 179 property:

Company A $680,000

Company B $1,500,000

Calculate the maximum amount of Section 179 deduction Mary will be able to deduct on her personal income tax return for 2021. Assume she placed no other Section 179 property in service during the year and was not subject to any income limitations.

Reference no: EM133154936

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