Caitlyn purchases and places in service property costing $1,050,000 in 2019. She wants to elect...
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Accounting
Caitlyn purchases and places in service property costing $1,050,000 in 2019. She wants to elect the maximum Sec. 179 deduction allowed and does not plan to apply bonus depreciation. Her business income is $900,000. What is the amount of her allowable Sec. 179 deduction and carryover, if any?
A.
| 179 deduction | Carryover |
| $900,000 | $120,000 |
B.
| 179 deduction | Carryover |
| $900,000 | $0 |
C.
| 179 deduction | Carryover |
| $1,020,000 | $0 |
D.
| 179 deduction | Carryover |
| $900,000 | $150,000 |
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