Woolard Supplies ( a sole proprietorship ) has taxable income in 2 0 2 3 of $
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Question:
Woolard Supplies a sole proprietorship has taxable income in of $ before any depreciation deductions bonus, or MACRS and placed some office furniture into service during the year. The furniture does not qualify for bonus depreciation. Use MACRS Table Table Table Table and Table
Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.
Asset Placed In Service Basis
Office furniture used March $
b If Woolard elects the maximum amount of for the year, what is the amount of deductible expense for the year? What is the total depreciation that Woolard may deduct in What is Woolard's carryforward amount to next year, if any?
Related Book For
Essentials Of Federal Taxation 2019
ISBN: 9781260190045
10th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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