Assume that Sivart Corporation has 2023 taxable income of $1 750 000 for purposes of computing the
Question:
Assume that Sivart Corporation has 2023 taxable income of $1 750 000 for purposes of computing the paragraph 179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset Placed in Service Basis
Machinery June 12 $ 1 440 000
Computer equipment Feb 10 70 000
Delivery Truck -used August 21 93 000
Furniture April 2 310 000
Total 1 913 000
What is the maximum total depreciation (179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in service in 2023?
Taxation Of Individuals And Business Entities 2021
ISBN: 9781260247138
12th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham