2023, machinery with 1) Olney LLC only purchased one asset this year. Olney LLC placed in service on July Assume that Olney has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction, including $179 expensing (but ignoring bonus depreciation). Blank 1 Blank 1 Add your answer

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1) Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery with a basis of $1,330,000.
Assume that Olney has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction, including $179
expensing (but ignoring bonus depreciation). Blank 1
Blank 1 Add your answer
Transcribed Image Text:1) Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery with a basis of $1,330,000. Assume that Olney has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction, including $179 expensing (but ignoring bonus depreciation). Blank 1 Blank 1 Add your answer
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