Question
Chaz Corporation has taxable income in 2021 of $312,400 for purposes of computing the 179 expense and acquired the following assets during the year: Asset
Chaz Corporation has taxable income in 2021 of $312,400 for purposes of computing the 179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office furniture September 12 $ 784,000 Computer equipment February 10 934,000 Delivery truck August 21 72,000 Qualified improvement property September 30 1,503,000 Total $ 3,293,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021? (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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started