Question
Chaz Corporation has taxable income in 2020 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 2020 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 2020?
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
978-0132776011
