Question
Chaz Corporation has taxable income in 2020 of $356,000 for purposes of computing the 179 expense and acquired the following assets during the year: Placed
Chaz Corporation has taxable income in 2020 of $356,000 for purposes of computing the 179 expense and acquired the following assets during the year:
| Placed in | |||
| Asset | Service | Basis | |
| Office furniture | September 12 | $ | 721,000 |
| Computer equipment | February 10 | 928,000 | |
| Delivery truck | August 21 | 64,000 | |
| Qualified improvement property | September 30 | 1,529,000 | |
| Total | $ | 3,242,000 | |
What is the maximum total depreciation deduction that Chaz may deduct in 2020?
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Financial Accounting Working Papers Tools For Business Decision Making
Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso
6th Edition
0470887931, 978-0470887936
