Question
BLANK Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, BLANK acquired the following assets: (Use MACRS
BLANK Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the 179 expense. During 2019, BLANK acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.-please look these up as I am unable to post them all, thank you)
Placed in | |||
Asset | Service | Basis | |
Machinery | September 12 | $ | 1,350,000 |
Computer equipment | February 10 | 395,000 | |
Office building | April 2 | 510,000 | |
Total | $ | 2,255,000 | |
a. What is the maximum amount of 179 expense BLANK may deduct for 2019?
b. What is the maximum total depreciation, including 179 expense, that BLANK may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.)
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