Assume that TDW Corporation (calendar-year-end) has 2022 taxable income of $650,000 for purposes of computing the 179

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Assume that TDW Corporation (calendar-year-end) has 2022 taxable income of $650,000 for purposes of computing the §179 expense. The company acquired the following assets during 2022:

a) What is the maximum amount of §179 expense TDW may deduct for 2022?
b) What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2022 on the assets it placed in service in 2022, assuming no bonus depreciation?

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Taxation Of Individuals And Business Entities 2023 Edition

ISBN: 9781265790295

14th Edition

Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham

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Question Posted: Nov 15, 2022 01:43 AM

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Assume that TDW Corporation (calendar-year-end) has 2022 taxable income of $650,000 for purposes of computing the 179

Question:

Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 Basis $2,270,000 263,000 880,000 $3,413,000

Step by Step Answer:

a The maximum 179 expense is 367000 Description Amount Explanation 1 Property placed in serv...View the full answer

Taxation Of Individuals And Business Entities 2023 Edition

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