NLT Inc Purchased Only One Item of Tangible Personalty in 2015

question 13

True/False

NLT Inc. purchased only one item of tangible personalty in 2015. The cost of the item was $24,000. NLT's taxable income before any Section 179 deduction was $7,100. NLT can elect Section 179 for only $7,100 of the cost of the property.

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Definitions:

Review Tab

A section in software applications, particularly in office suites, that contains tools for document reviewing functions such as spelling and grammar check, comments, and track changes.

Next Comment

In document editing and review software, the action or command that navigates the user to the next commented or annotated section of a document for review or editing.

Review Tab

A section or tab in software applications like Microsoft Word that contains tools for proofreading, commenting, and tracking changes to documents.

Comments Group

A feature in software applications that allows users to add comments or annotations to a document or file for review or collaboration purposes.