Taxpayer places in service new equipment for $800,000 (7 year property) on August 15, and...
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Accounting
Taxpayer places in service new equipment for $800,000 (7 year property) on August 15, and elects immediate expensing of the maximum amount:
2016 2018
Cost of equipment
179 deduction
additional first year depreciation
amount subject to MACRS (MACRS rate .1429)
Total cost recovery allowed in 2016
What is same facts but under 2018 law?
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