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Election to expense, rather than depreciate the cost of depreciable personalty (and certain real estate) used in an active business.
An annual limit: $500,000 for 2013.
– The limit is reduced for purchases of eligible property in excess of $2,000,000. The § 179 deduction is limited to the net income from active businesses for the year before the deduction. Any excess can be carried forward. Additional First Year Depreciation
Additional First Year Depreciation
Applies only to NEW property (plus limited additional properties) placed in service in an active business afte...
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