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Business, 19.04.2021 18:50 megan9246

s of January 1, 2020, John is a 50% shareholder of XYZ, Inc., an S corporation, as well as a 75% shareholder of ABC, Inc., also an S corporation. Both companies are calendar-year taxpayers. Because of profitable years, each company elected to use the maximum depreciation deduction allowable under IRS Code Sec. 179 for the year. Assuming that each election was valid, what is the maximum amount of Sec. 179 deductions which can be passe

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s of January 1, 2020, John is a 50% shareholder of XYZ, Inc., an S corporation, as well as a 75% sha...
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