Assume that TDW Corporation (calendar-year-end) has 2024 taxable income of $950,000 for purposes of computing the $179 expense. The company acquired the following assets during 2024: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 Basis $ 2,270,000 263.000 880,000 $ 3,413,000 b. What is the maximum total depreciation, including $179 expense, that TDW may deduct in 2024 on the assets it placed in service in 2024, assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Answer is complete but not entirely correct. Maximum total depreciation deduction (including $179 expense). $ 1,496,971 X
Assume that TDW Corporation (calendar-year-end) has 2024 taxable income of $950,000 for purposes of computing the $179 expense. The company acquired the following assets during 2024: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 Basis $ 2,270,000 263.000 880,000 $ 3,413,000 b. What is the maximum total depreciation, including $179 expense, that TDW may deduct in 2024 on the assets it placed in service in 2024, assuming no bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Answer is complete but not entirely correct. Maximum total depreciation deduction (including $179 expense). $ 1,496,971 X
Chapter14: Property Transact Ions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 74P
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