YumYum Corporation (a calendar-year corporation) moved into a new office building adjacent to its manufacturing plant in 2018. It purchased and placed in service the following assets during 2018:

All assets are used 100% for business use. The office building does not include the cost of the land on which it is located that was an additional $300,000. The corporation had $900,000 income from operations before calculating depreciation deductions. What is the maximum Section 179 deduction YumYum can claim for 2018?

Transcribed Image Text:

Date Acquired March 4 Asset Description New Office Building New Computer Equipment New Office Fumiture Used Machinery New Automobile Cost $850,000 March 25 August 20 December 15 $25,000 $120,000 $30,000 Date Acquired March 4 Asset Description New Office Building New Computer Equipment New Office Fumiture Used Machinery New Automobile Cost $850,000 March 25 August 20 December 15 $25,000 $120,000 $30,000

Answer rating: 100% (QA)

If yum yum does not use secti... View the full answer