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Reid acquired two assets in 2020: on August 6thhe acquired computer equipment (five-year property) with a basis of $1,200,000 andon November 9th he acquired machinery
Reid acquired two assets in 2020: on August 6thhe acquired computer equipment (five-year property) with a basis of $1,200,000 andon November 9th he acquired machinery (seven-year property) with a basis of $1,320,000. Assume that Reid has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction, including 179 expensing (but not bonus depreciation).
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