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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? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
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