In August 2014,Tianshu Acquires and Places into Service 7-Year Business

question 90

Essay

In August 2014,Tianshu acquires and places into service 7-year business equipment (tangible personal property qualifying under Sec.179)for $70,000.This is the only asset that she purchased during the year; her taxable income from her trade or business is $23,000.She decides to limit her 179 election to the maximum amount currently deductible in her business for the current year.What is her maximum cost recovery (Sec.179 and depreciation)deduction for 2014?

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Definitions:

Later IQ Scores

Measures of intellectual ability or cognitive capacity obtained at a later stage, potentially influenced by early life experiences and education.

Visual Recognition Memory

The kind of memory shown in an infant’s ability to discriminate previously seen objects from novel objects.

Vocal Tract

The part of the human anatomy that includes the oral cavity, pharynx, nasal passages, and the structures within them, which together facilitate the production of speech sounds.

Highly Specific

Referring to something that is precisely or strictly identified or defined.