Question
Boxer LLC has acquired various types of assets recently used 100% in its trade or business. Below is a list of assets acquired during 2016
Boxer LLC has acquired various types of assets recently used 100% in its trade or business. Below is a list of assets acquired during 2016 and 2017:
Asset | Cost Basis | Date Placed in Service |
Machinery | 50,000 | September 1, 2016 |
Apartment building | 500,000 | June 1, 2016 |
Furniture | 510,000 | May 1, 2017 |
Computer equipment | 510,000 | May 10, 2017 |
Automobile | 15,000 | March 16, 2017 |
Office building | 600,000 | June 24, 2017 |
Boxer did not elect 179 expense and elected out of bonus depreciation in 2016, but would like to elect 179 expense for 2017 (assume that taxable income is sufficient). Calculate Boxer's maximum depreciation expense for 2017, including Sec. 179 expense (ignore bonus depreciation for 2017).
2017 Depreciation, including Sec. 179 expense
Machinery:
Apartment building:
Furniture:
Computer equipment:
Automobile:
Office building:
|
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