Question
Assume that ACW Corporation has 2022 taxable income of $1,975,000 before the $179 expense, acquired the following assets during 2022 (assume no bonus depreciation):
Assume that ACW Corporation has 2022 taxable income of $1,975,000 before the $179 expense, acquired the following assets during 2022 (assume no bonus depreciation): Asset Machinery Computer equipment Delivery truck Qualified leasehold improvements Total Placed in Service Basis September 12 $483,000 February 10 70,000 August 21 93,000 April 2 1,380,000 $2,026,000 What is the maximum amount of $179 expense ACW may deduct for 2022?
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
9781119786634
