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Assume that ACW Corporation has 2023 taxable income of $1,900,000 for purposes of computing the 179 expense. The company acquired the following assets during
Assume that ACW Corporation has 2023 taxable income of $1,900,000 for purposes of computing the 179 expense. The company acquired the following assets during 2023 (assume no bonus depreciation): (Use MACRS Table 1, Table 2, and Table 5.) Asset Placed in Service 12-September Basis $ 510,000 Machinery Computer equipment Delivery truck 10-February 21-August Qualified real property (MACRS, 15 year, 150% DB) 02-April Total 110,000 133,000 1,420,000 $ 2,173,000 a. What is the maximum amount of 179 expense ACW may deduct for 2023? b. What is the maximum total depreciation that ACW may deduct in 2023 on the assets it placed in service in 2023? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Answer is complete but not entirely correct. a. Maximum 179 expense for 2023 $ 1,900,000 b. Maximum total deductible depreciation for 2023 $ 170,956
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