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Question - For his business, McKenzie purchased qualifying equipment that cost $212,000 in 2020. The taxable income of the business for the year is $5,600 before consideration of any § 179 deduction. If an amount is zero, enter "0".

a. McKenzie's § 179 expense deduction is $ for 2020. His § 179 carryover to 2021 is $.

b. How would your answer change if McKenzie decided to use additional first-year (bonus) depreciation on the equipment?

Reference no: EM132646109

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