Question
[The following information applies to the questions displayed below.] Assume that TDW Corporation (calendar-year-end) has 2023 taxable income of $650,000 for purposes of computing the
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar-year-end) has 2023 taxable income of $650,000 for purposes of computing the 179 expense. The company acquired the following assets during 2023: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
Asset | Placed in Service | Basis |
---|---|---|
Machinery | September 12 | $ 2,270,000 |
Computer equipment | February 10 | 263,000 |
Furniture | April 2 | 880,000 |
Total | $ 3,413,000 |
b. What is the maximum total depreciation, including 179 expense, that TDW may deduct in 2023 on the assets it placed in service in 2023, assuming no bonus depreciation?
Note: 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