Assume that Sivart Corporation has 2022 taxable income of $1,750,000 for purposes of computing the 179 expense

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Assume that Sivart Corporation has 2022 taxable income of $1,750,000 for purposes of computing the §179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation.

a) What is the maximum amount of §179 expense Sivart may deduct for 2022?
b) What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2022 on the assets it placed in service in 2022?

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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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