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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
Required information
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
Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.
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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