Rustin Bought Used 7-Year Class Property on May 15,2013,for $728,000

question 91

Essay

Rustin bought used 7-year class property on May 15,2013,for $728,000.Rustin elects § 179 and straight-line cost recovery.Rustin's taxable income would not create a limitation for purposes of the § 179 deduction.Determine the maximum write-off Rustin can take in 2013.

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Definitions:

Activity Tolerance

An individual's ability to withstand or perform activities without causing undesirable symptoms or exacerbating a health condition.

Issues Management

An anticipatory, strategic management process that helps organizations detect and respond appropriately to emerging trends or changes in the sociopolitical environment.

Reactive

When an organization does not act in advance and the situation escalates requiring an organizational, public response.

Anticipatory

Characterized by anticipation; taking action in expectation of future needs or problems.