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 Sept 30 1,529,000
Total $3,242,000
What is the maximumtotaldepreciation deduction that Chaz may deduct in 2020?
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Principles Of Taxation For Business And Investment Planning 2016 Edition
Authors: Sally Jones, Shelley Rhoades Catanach
19th Edition
1259549259, 978-1259618536, 1259618536, 978-1259549250
