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What is maximum amount that can reduce the taxable income

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Reference no: EM132350068

Question - Bill Carr, located in Michigan, acquired 2,920,000 of qualifying IRC section 179(not a SUV) in 2018. His taxable income was 65,000. What is the maximum amount that can reduce the taxable income under section 179 rules in 2018?

580,000

1,000,000

420,000

65,000

Reference no: EM132350068

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