The Basis of an Asset on Which $20,000 Has Been

question 40

True/False

The basis of an asset on which $20,000 has been expensed under § 179 will be reduced by $20,000 even if $20,000 cannot be expensed in the current year because of the taxable income limitation.

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Definitions:

-poiesis

A suffix meaning the formation, production, or generation of something, such as in 'hemopoiesis' the production of blood cells.

Suffix

A morpheme added at the end of a word to form a derivative, e.g., -tion, -sion, -ness.

Formation

The process of developing or being formed; in biology, it often refers to the way cells or tissues are created and organized.

Profuse Sweating

Excessive perspiration often due to heat, physical exertion, or medical conditions.