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Margie purchased one new asset during the year the business

Margie purchased one new asset during the year (5-year property) on January 10, 2016, at a cost of $180,000. She made the Section 179 election but elected not to take additional first year depreciation. The income from the business before any cost recovery deduction was $50,000. Determine the Section 179 carryforward amount (if any) on this asset as of 12-31- 2016.

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Accounting Basics: Margie purchased one new asset during the year the business

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