[Anonymous]

I understand there is a $25,000 limit to the 179 deduction and a dollar-for-dollar reduction for amounts in excess of $200,000. But, if an owner has (1) Furniture & Equipment ($12K) & (2) PCs and peripheral equipment ($14K) can the 179 deduction be applied to the total of (1) and (2)? Or, can the owner only apply the 179 deduction to one of the items?

[Tux]

I'm pretty sure that you can apply it to the total of 1 & 2.

I'd like to hear feedback from others, as well.

FAR - 86 - 2/27/14
AUD - 75 - 5/29/14
BEC - 80 - 8/31/14
REG - 89 - 2/27/15
Praise Jesus! I'm done!!

Study resources:
Becker
Wiley test bank

[NJPRU]

I read it as the amount of property put into place up to 200k, thus being any amount of property.

I found this on the IRS website, it's for 2013 as they hadn't updated it, but you can catch the drift regardless:

“The total amount you can elect to deduct under section 179 for most property placed in service in 2013 generally cannot be more than $500,000. If you acquire and place in service more than one item of qualifying property during the year, you can allocate the section 179 deduction among the items in any way, as long as the total deduction is not more than $500,000. You do not have to claim the full $500,000.”

https://www.irs.gov/publications/p946/ch02.html

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Author]

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