Question

Which of the following assets are eligible for 179 expensing?

A) Used office machinery.
B) Qualified improvement property.
C) A new delivery truck.
D) Used office furniture.
E) All of the choices are correct.

Answer 1

The correct answer is E) All of the choices are correct.

The following asset is eligible for 179 expensing: All of the choices are correct.

We are referring to the tax deduction, section 179 of the IRS tax code. This section allows companies to deduct the full acquisition price of qualifying machinery, devices or software during the fiscal year. The incentive was created by the government to support businesses to buy equipment and promote investments to procure themselves.