Question
Assume that Timberline Corporation has 2017 taxable income of $175,000 before the 179 expense. Asset Purchase Date Basis Furniture (7-year) December 1 $350,000 Computer Equipment
Assume that Timberline Corporation has 2017 taxable income of $175,000 before the 179 expense.
Asset Purchase Date Basis
Furniture (7-year) December 1 $350,000
Computer Equipment (5-year) February 28 $90,000
Copier (5-year) July 15 $30,000
Machinery (7-year) May 22 $480,000
Total $950,000
What is the maximum amount of 179 expense Timberline may deduct for 2017?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting For Managerial Planning Decision Making And Control
Authors: Andrew Schiff, Hsihui Chang, Woody M Liao, James L Boockholdt
5th Edition
0759340412, 978-0759340411
