Yes, that is very helpful thank you!
I also reviewed the IRS website, which states: "You begin to claim depreciation when your property is placed in service for either use in a trade or business or the production of income."
So with that in mind, I should be able to purchase the asset in December, begin using it in January, and take the 179 election to deduct the full value (since it's under $1.16M) in 2024, when it is placed into service. Do you see anything I might be oversimplifying there?
