The § 179 Deduction Can Exceed $500,000 in 2016 If

question 64

True/False

The § 179 deduction can exceed $500,000 in 2016 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year.

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Definitions:

Bed Rest

A medical treatment in which a person lies in bed for most of the time to recover from an illness or medical condition.

Emptying Bladder

The act or process of releasing urine from the bladder through the urethra to the exterior of the body, an essential function for the removal of waste products.

Hemiplegic Patient

An individual who has paralysis on one vertical half of their body, typically resulting from a stroke or other neurological conditions.

Mechanical Patient Lift

A device designed to assist healthcare workers in safely lifting and transferring patients with mobility challenges.