NLT Inc Purchased Only One Item of Tangible Personalty in 2013

question 75

True/False

NLT Inc. purchased only one item of tangible personalty in 2013. The cost of the item was $124,000. NLT's taxable income before any Section 179 deduction was $77,100. NLT can elect Section 179 for only $77,100 of the cost of the property.

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Definitions:

Both Sexes

A term referring to both male and female genders, considering the characteristics, behaviors, or roles attributed to them.

ADHD

Attention-Deficit/Hyperactivity Disorder, a neurodevelopmental disorder characterized by problems with focus, hyperactivity, and impulsive behavior.

Lack Of Attention

A deficiency in the ability to focus or concentrate on a task or the present moment, often leading to difficulties in learning or completing tasks.

Hyperactivity

Excessive restlessness and overactivity; one of the primary characteristics of attention-deficit/hyperactivity disorder (ADHD). Not to be confused with misbehavior or with high activity levels that are normal during childhood.