AMP Corporation (calendar year-end has a 2019 taxable income of $1,900,000 for purpose of computing the $179 expense. During 2019, AMP acquired the following assets:

Assets		Placed in service		Basis
Machinery		Sep-12		1,350,000
Computer Equipment		Feb-10		395,000
Office Building		Apr-02		510,000
Total				2,255,000

a. What is the maximum amount of $179 expense AMP may deduct for 2019?

b. What is the maximum total depreciation, including the $179 expense that AMP may deduct in 2019 on the assets if placed in service in 2019, assuming no bonus depreciation?

Answer rating: 100% (QA)

a Description Amount Explanation 1 Property Placed in service ... View the full answer