In 2011 x company purchased purchased one asset costing

Reference no: EM13588385

In 2011, X company purchased purchased one asset costing $48,400 and elected to expense the entire cost. However, X could only deduct $21,000 of the Section 179 expense because of the taxable income limitation. In 2012, X purchased tangible personalty costing $130,000. x's taxable income without regard to any Section 179 deduction was $2,912,400. Compute X's 2012 Section 179 deduction.

Reference no: EM13588385

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In 2011 x company purchased purchased one asset costing

Reference no: EM13588385

Reference no: EM13588385

Questions Cloud

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