Question
Chaz Corporation has taxable income in 2020 of $384,000 for purposes of computing the 179 expense and acquired the following assets during the year: Placed
Chaz Corporation has taxable income in 2020 of $384,000 for purposes of computing the 179 expense and acquired the following assets during the year:
| Placed in | |||
| Asset | Service | Basis | |
| Office furniture | September 12 | $ | 651,000 |
| Computer equipment | February 10 | 942,000 | |
| Delivery truck | August 21 | 71,000 | |
| Qualified improvement property | September 30 | 1,543,000 | |
| Total | $ | 3,207,000 | |
|
| |||
What is the maximum total depreciation deduction that Chaz may deduct in 2020?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
