Business, 10.03.2020 04:17 kseniyayakimno
In 2016, Firm L purchased machinery costing $21,300 and elected to expense the entire cost under Section 179. How much of the expense can Firm L deduct in each of the following cases?a. Its taxable income before the deduction was $58,000.b. Its taxable income before the deduction was $19,200.c. Its net operating loss (NOL) before the deduction was $5,016.
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