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Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $700,000 for purposes of computing the 179 expense. The company acquired the following assets during
Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $700,000 for purposes of computing the 179 expense. The company acquired the following assets during 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Placed in | |||
Asset | Service | Basis | |
Machinery | September 12 | $ | 2,276,250 |
Computer equipment | February 10 | 271,125 | |
Furniture | April 2 | 890,625 | |
Total | $ | 3,438,000 | |
|
a. What is the maximum amount of 179 expense TDW may deduct for 2020?
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