Augie purchased one new asset during the year (five-year property) on november 10, 2019, at a cost of $660,000. she would like to use the § 179 election and will also take additional first-year depreciation. the income from the business before the cost recovery deduction and the § 179 deduction was $600,000. determine the maximum cost recovery deduction available on this asset for 2019.

$600,000

Explanation:

adquisition 660,000

but income for the period is 600,000

According to the law, you can only deduct as far as it does not exceed the taxable income

AKA until making the net income equal to zero.

You can generate an income tax benefit for using the § 179

The remaining 60,000 can be carry-over to next year if the requirement is met.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~

im confused need to go into details plz thx