Question
Chaz Corporation has taxable income in 2018 of $368,000 for purposes of computing the 179 expense and acquired the following assets during the year: Assume
Chaz Corporation has taxable income in 2018 of $368,000 for purposes of computing the 179 expense and acquired the following assets during the year:
Assume that the qualified improvement property has satisfied the conditions mentioned under Section 179(f)(2).
Placed inAssetServiceBasisOffice furnitureSeptember 12$691,000Computer equipmentFebruary 10934,000Delivery truckAugust 2167,000Qualified improvement propertySeptember 301,535,000Total$3,227,000
What is the maximumtotal depreciationdeduction that Chaz may deduct in 2018? (UseMACRSTable 1,Table 2,Table 3,Table 4andTable 5.)
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