Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
Sid bought a new $700,000 seven-year class asset on August 2, 2010. On December 2, 2010, he purchased $160,000 of used five-year class assets.
. Sid bought a new $700,000 seven-year class asset on August 2, 2010. On December 2, 2010, he purchased $160,000 of used five-year class assets. If Congress reenacts additional first-year depreciation for 2010, Sid elects not to take additional first-year depreciation. If Sid elects § 179, what is the maximum write-off for these purchases for 2010?
