Olgas total cost recovery depreciation deduction including

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Reference no: EM13602710

Olga is the proprietor of a small business. In 2012, the business income, before consideration of any cost recovery or § 179 deduction, is $250,000. Olga spends $600,000 on new seven-year class assets and elects to take the § 179 deduction on them. She elects not to take additional first-year depreciation. Olga's cost recovery deduction for 2012, except for the cost recovery with respect to the new seven-year assets, is $95,000.

a. What is the tentative amount of Olga's overall § 179 deduction for the seven-year class assets before any income limitation? $
b. Olga's cost recovery amount (excluding any § 179 deduction) for the seven-year class assets is $ .
c. The total amount of Olga's § 179 deduction for the seven-year class assets after any income limitation is $ .
d. Olga's total cost recovery depreciation deduction (including any § 179 deduction) is $ .
e. What is the amount of any § 179 carryforward? $

Reference no: EM13602710

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