Question
Chaz Corporation has taxable income in 2019 of $374,500 for purposes of computing the 179 expense and acquired the following assets during the year: Placed
Chaz Corporation has taxable income in 2019 of $374,500 for purposes of computing the 179 expense and acquired the following assets during the year: Placed in Asset Service Basis Office furniture September 12 $ 771,000 Computer equipment February 10 918,000 Delivery truck August 21 59,000 Qualified improvement property September 30 1,519,000 Total $ 3,267,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
Chaz Corporation has taxable income in 2019 of $374,500 for purposes of computing the $179 expense and acquired the following assets during the year: $ Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Basis 771,000 918,000 59,000 1,519,000 $ 3,267,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.) Maximum total depreciation deductionStep by Step Solution
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