Question
Woolard Inc. has taxable income in 2015 of $150,000 before any depreciation deductions (179, bonus, or MACRS) and acquired the following assets during the year:
Woolard Inc. has taxable income in 2015 of $150,000 before any depreciation deductions (179, bonus, or MACRS) and acquired the following assets during the year: (Use MACRS Table 1, Table 2, Table 3, Table 4and Table 5.) (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) |
Asset | Placed in Service | Basis | |
Office furniture (used) | March 20 | $ | 575,000 |
|
Assume the 2014 179 limits and bonus depreciation are extended to 2015
woodlards total depreciation ---------------------- b.
|
deductible 179 expense ---------
total depreciation expense -------
179 carryforward -------------
C.
Woolard is concerned about future limitations on its 179 expense. How much 179 expense should Woolard expense this year if it wants to maximize its depreciation this year and avoid any carryover to future years?
179 expense -------------- |
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