Question: Required information Problem 2-63 (LO 2-2, LO 2-3) (Static) [The following information applies to the questions displayed below.] Assume that Sivart Corporation has 2022
Required information Problem 2-63 (LO 2-2, LO 2-3) (Static) [The following information applies to the questions displayed below.] 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. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Machinery Computer equipment Delivery Truck-used Furniture Total Placed in Service June 121 February 10 August 21 April 2 Basis $ 1,440,000 70,000 93,000 310,000 $ 1,913,000 Problem 2-63 Part b (Static) b. What is the maximum total depreciation ($179, bonus, MACRS) that Sivart may deduct in 2022 on the assets it placed in service in 20227 Maximum total depreciation deduction (including $179 expense) $ 1,913,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
