Cher Holder owns all of the outstanding stock of two separate corporations, Common Corp and S.O. Teric, Inc. Common Corp is taxed under subchapter C of the Internal Revenue Code; S.O. is an S corporation. In 2014 Common and S.O. each put in service $150,000 of property qualifying for immediate expensing under §179, both Common and S.O. record over $100,000 of taxable income.
What is the greatest amount deductible under §179 that will be available to Cher by virtue of her ownership of S.O.? (Assume that the aggregate amount of qualifying property that may be immediately expensed under §179) in 2014 is #25,000, which the amount subject to phase out when total qualifying property exceeds $200,000.)