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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Mathematics

Mario Horn

14 June, 17:06

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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Kaylin Cherry · 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.