In General, a Taxpayer Should Select Longer-Lived Property for the §179

question 48

True/False

In general, a taxpayer should select longer-lived property for the §179 immediate expensing election.

---

Definitions:

Cost Schedule

A detailed listing of all costs associated with a project or production process, often segmented by types or periods.

Patent

A legal document granted by the government giving an inventor exclusive rights to make, use, and sell an invention for a certain period of years.

Marginal Cost

The increase or decrease in the total cost of a production run for making one additional unit of an item.

Zero Marginal Cost

The situation when producing an additional unit of a good or service does not increase the total cost of production, often associated with digital products or services.