Question
Chaz Corporation has taxable income in 2018 of $376,000 for purposes of computing the 179 expense and acquired the following assets during the year: Placed
Chaz Corporation has taxable income in 2018 of $376,000 for purposes of computing the 179 expense and acquired the following assets during the year:
| Placed in | |||
| Asset | Service | Basis | |
| Office furniture | September 12 | $ | 671,000 |
| Computer equipment | February 10 | 938,000 | |
| Delivery truck | August 21 | 69,000 | |
| Qualified improvement property | September 30 | 1,539,000 | |
| Total | $ | 3,217,000 | |
|
| |||
What is the maximum total depreciation deduction that Chaz may deduct in 2018?
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Auditing An International Approach
Authors: Wally Smieliauskas, Amy Kwan, Kathleen Cogliano, Catherine Barrette
8th Canadian Edition
1259451275, 978-1259451270
