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Calculating taxable income related to the machine

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Reference no: EM133120775

Question - Blue Company acquires a machine (7-year property) on 11/5/2017, at a cost of $600,000. Blue makes the election to expense the maximum amount under Section 179 (this is their only purchase of tangible personal property) and does not elect out of bonus depreciation (i.e., Blue wants to take bonus depreciation if possible). Assume Blue has sufficient taxable income to take the maximum 179 deduction available. Determine the total deductions in calculating taxable income related to the machine for 2017 and 2018.

Reference no: EM133120775

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