Fariq Purchases and Places in Service in 2016 Personal Property

question 92

Multiple Choice

Fariq purchases and places in service in 2016 personal property costing $2,031,000.The property does not qualify for bonus depreciation.What is the maximum Sec.179 deduction that Fariq can deduct,ignoring any taxable income limitation?

• A)$500,000
• B)$0
• C)$479,000
• D)$469,000

---

Definitions:

Delta Water Company

A named entity that could refer to a specific water utility or company involved in the distribution or management of water resources, though the exact reference is generic without further context.

Administrative Agencies

Government bodies responsible for the oversight and administration of specific regulations and laws within their jurisdiction.

Binding

Refers to agreements or contracts that legally obligate the parties involved to fulfill their respective parts of the deal.

Laws Passed By Congress

Legislation that has been approved by both houses of the United States Congress and has become law, often shaping the legal framework of the country.