Skip owns a business. Since demand is on the rise, he decided to purchase an upgraded machine that will produce four times as fast as his previous machine. The cost of the new machine is $400,000 and will be the only depreciable property that Skip places in service during 2019. What is the amount of his Section 179 deduction for 2019

$400,000

Explanation:

According to Section 179 on deducting Expenses issued by the IRS, a company may deduct the cost of certain assets when they are first put into service.

The Assets include tangible assets such as equipment and machinery so long as they are purchased for business use.

Skip bought the equipment for $400,000 and as such can deduct this entire amount under Section 179.

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