Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work 10 Chaz Corporation has taxable income in 2020 of $322,000 for purposes of computing the 5179 expense and acquired the following assets

image text in transcribed
image text in transcribed
Check my work 10 Chaz Corporation has taxable income in 2020 of $322,000 for purposes of computing the 5179 expense and acquired the following assets during the year 25 points Asset office furniture Computer equipment Delivery truck qualified improvement property Totat Placed in Service September 12 February 10 August 23 September 30 masis $ 781,000 90,000 54,00 1,500,000 $3,252,000 References What is the maximum total depreciation deduction that Chat may deduct in 2020? (Use MACRS Table 1. Table 2. Table 3. Table & and Table 5) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum lote deciation detin Table 1 MACRS Half-Year Convention Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 33.33% 20.00% 14.29% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 7.70 11.52 8.93 9.22 6.93 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.90 5.91 5.90 5.91 2.95 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 4.461 Year 17 Year 18 4.462 4.461 Year 19 Year 20 Year 21 4.462 4.461 2.231

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Cultures Anthropological Studies In Accountability Ethics And The Academy

Authors: Marilyn Strathern

1st Edition

0415233275, 978-0415233279

More Books

Students also viewed these Accounting questions