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Assume that Sivart Corporation has 2018 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. The
Assume that Sivart Corporation has 2018 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. The delivery truck was acquired in a nontaxable transaction. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Placed in | |||
Asset | Service | Basis | |
Machinery | June 12 | $ | 1,440,000 |
Computer equipment | February 10 | 70,000 | |
Delivery Truck-used | August 21 | 93,000 | |
Furniture | April 2 | 310,000 | |
Total | $ | 1,913,000 | |
|
What is the maximum amount of 179 expense Sivart may deduct for 2018
What is the maximum total depreciation (179, bonus, MACRS) that Sivart may deduct in 2018 on the assets it placed in service in 2018?
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