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Required information [ The following information applies to the questions displayed below. ] Woolard Supplies ( a sole proprietorship ) has taxable income in 2
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The following information applies to the questions displayed below.
Woolard Supplies a sole proprietorship has taxable income in of $ before any depreciation deductions $ bonus, or MACRS and placed some office furniture into service during the year. The furniture does not qualify for bonus depreciation. Use MACRS Table Table Table Table and Table Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
tableAssetPlaced InOffice furniture usedService Basis
b If Woolard elects the maximum amount of $ for the year, what is the amount of deductible $ expense for the year? What is the total depreciation that Woolard may deduct in What is Woolard's $ carryforward amount to next year, if any?
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