Question
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing the 179 expense. The company acquired the following assets
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing the 179 expense. The company acquired the following assets during 2022:
| Asset | Placed in Service | Basis |
|---|---|---|
| Machinery | September 12 | 2,270,000 |
| Computer Equipment | February 10 | 263,000 |
| Furniture | April 2 | 880,000 |
| Total | 3,413,000 |
a. What is the maximum amount of 179 expense TDW may deduct for 2022?
b. What is the maximum total depreciation, including 179 expense, that TDW may deduct in 2022 on the assets it placed in service in 2022, assuming no bonus depreciation?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
