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Assume that Eliza Hunt LLC acquires a competitor's assets on June 15, 2019. The purchase price was $1,500,000. Eliza has sufficient taxable income for
Assume that Eliza Hunt LLC acquires a competitor's assets on June 15, 2019. The purchase price was $1,500,000. Eliza has sufficient taxable income for the 179 deduction. The breakdown of the assets acquired is in the table below: You are screen sharing Asset Factory Equipment (179 Expense) Furniture Stop Share Purchase Price Allocation Life 7 years 7 years Computers (179 Expense)?, Warehouse Customer List ? ? Non-Compete Agreement? Goodwill 3 Total ? 195,000 85,000 150,000 675,000 75,000 150,000 170,000 1,500,000 1. What is Eliza's maximum depreciation deduction (not including amortization) in 2019 assuming she elects out of bonus depreciation and takes a 179 expense on only the factory equipment and the computers?
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