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Assume that Sivart Corporation has 2021 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. Assume
Assume that Sivart Corporation has 2021 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (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 Truckused | August 21 | 93,000 | |
Furniture | April 2 | 310,000 | |
Total | $ | 1,913,000 | |
b. What is the maximum total depreciation (179, bonus, MACRS) that Sivart may deduct in 2021 on the assets it placed in service in 2021?
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