Littman LLC placed in service on July 29, 2015 machinery and equipment (7-year p

Question

Littman LLC placed in service on July 29, 2015 machinery and equipment (7-year property) with a basis of $600,000. Littman's income for the current year before any depreciation expense was $ 100,000. Which of the following statements is true to maximize Littman's total depreciation expense for 2015? (Assume that the 2014 §179 limits are extended to 2015.) Littman should take § 179 expense equal to the maximum $500,000. Littman should take no §179 expense. Littman's §179 expense will be greater than $100,000. Littmen's § 179 expense will be less than $ 100,000. None of these.

Explanation / Answer

Solution.

In this case litman should be take benifit of Sec 179.

Best statement is Littman should takesec 179 expence equal to the maximum $500,000.

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