Dorcas is the proprietor of a small business in 2014 the


Dorcas is the proprietor of a small business. In 2014, the business income, before consideration of any cost recovery or § 179 deduction, is $170,000. Dorcas spends $50,000 on new seven-year class assets and elects to take the § 179 deduction on them. She elects not to take additional first-year depreciation. Dorcas's cost recovery deduction for 2014, except for the cost recovery with respect to the new seven-year assets, is $90,000. Note: If an amount is zero, enter "0". If required, round your intermediate computations and final answers to the nearest dollar. Click here to access Table 5.1 of the textbook. a. What is the tentative amount of Dorcas's overall § 179 deduction for the seven-year class assets before any income limitation? $ b. Dorcas's cost recovery amount (excluding any § 179 deduction) for the seven-year class assets is $ . c. The total amount of Dorcas's § 179 deduction for the seven-year class assets after any income limitation is $ . d. Dorcas's total cost recovery depreciation deduction (including any § 179 deduction) is $ . e. What is the amount of any § 179 carry forward? $

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Financial Accounting: Dorcas is the proprietor of a small business in 2014 the
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