Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the 179 expense and

Question:

Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year:

Asset


Placed in Service

Basis

Office furniture

September 12

$780,000

Computer equipment

February 10

930,000

Delivery truck

August 21

68,000

Qualified improvement property

September 30

1,500,000

 Total



$3,278,000


What is the maximum total depreciation that Chaz may deduct in 2020?

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Related Book For  book-img-for-question

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

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