The § 179 Deduction Can Exceed $1,000,000 in 2018 If

question 18

True/False

The § 179 deduction can exceed $1,000,000 in 2018 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year.

---

Definitions:

Hypomania

A mild manic state in which the individual seems infectiously merry, extremely talkative, charming, and tireless.

Bipolar Disorder

A mental health condition characterized by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).

Elevated Mood

A state of heightened, improved or more positive mood compared to one's normal baseline mood.

Bipolar Disorder

A psychiatric disorder marked by severe changes in mood, encompassing periods of intense elation (mania or hypomania) and profound sadness (depression).