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Discuss what would be allowable depreciation

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On June 30, 2016, Tom purchased office furniture (7 year property) costing $400,000 and computers (5-year property) costing $250,000. He uses section 176 expensing but the assets do NOT qualify for bonus depreciation. His business income in 2016 is $790,000 without considering section 179. How should he allocate the section 179 election in order to maximize his total expesing and depreciation in 2016 and what would be his allowable depreciation in 2017 based on that allocation if he sells all of the assets on November 1, 2017?

Reference no: EM131794136

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