During 2019, a corporation purchased machinery costing $1,200,000 and a warehouse costing $1,600,000. These are the only two acquisitions of depreciable property purchased by the corporation in 2019. The maximum deduction the corporation can claim under Code SeC. 179 in 2019 is

Question

Theresa Weber

Mathematics

5 September, 04:00

During 2019, a corporation purchased machinery costing $1,200,000 and a warehouse costing $1,600,000. These are the only two acquisitions of depreciable property purchased by the corporation in 2019. The maximum deduction the corporation can claim under Code SeC. 179 in 2019 is

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Edward Cross · Answer 1

The maximum deduction the corporation can claim under Code SeC. 179 in 2019 is $1,000,000

Step-by-step explanation:

The new tax provisions under code 179 allows maximum deduction of $1,000,000 on equipment (machines) placed in service in 2019.