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Chaz Corporation has taxable income in 2020 of $478,000 for purposes of computing the $179 expense and acquired the following assets during the year: $
Chaz Corporation has taxable income in 2020 of $478,000 for purposes of computing the $179 expense and acquired the following assets during the year: $ Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Basis 781,000 902,000 51,000 1,503,000 $ 3,237,000 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.) Maximum total depreciation deduction 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year Year 1 33.33% 20.00% 14.29% 10.00% 5.00% Year 2 44.45 32.00 24.49 18.00 9.50 Year 3 14.81 19.20 17.49 14.40 8.55 Year 4 7.41 11.52 12.49 11.52 7.70 Year 5 11.52 8.93 9.22 6.93 Year 6 5.76 8.92 7.37 6.23 Year 7 8.93 6.55 5.90 Year 8 4.46 6.55 5.90 Year 9 6.56 5.91 Year 10 6.55 5.90 Year 11 3.28 5.91 Year 12 5.90 Year 13 5.91 Year 14 5.90 Year 15 5.91 Year 16 2.95 Year 17 Year 18 Year 19 Year 20 Year 21 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231
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