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Chaz Corporation has taxable income in 2019 of $368,000 for purposes of computing the §179 ex following assets during the year: Asset Office furniture Placed in Service Basis September 12 $ 691,000 February 10 934,000 August 21 67,000 Computer equipment Delivery truck Qualified improvement property September 30 Total $ 1,535,000 3,227,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019?

Chaz Corporation has taxable income in 2019 of $368,000 for purposes of computing the §179 ex following assets during the year: Asset Office furniture Placed in Service Basis September 12 $ 691,000 February 10 934,000 August 21 67,000 Computer equipment Delivery truck Qualified improvement property September 30 Total $ 1,535,000 3,227,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Chaz Corporation has taxable income in 2019 of $368,000 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Placed in Service September 12 Computer equipment Delivery truck Qualified improvement property September 30 Total February 10 August 21 Basis $ 691,000 934,000 67,000 1,535,000 $ 3,227,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019?
Transcribed Image Text:Chaz Corporation has taxable income in 2019 of $368,000 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Placed in Service September 12 Computer equipment Delivery truck Qualified improvement property September 30 Total February 10 August 21 Basis $ 691,000 934,000 67,000 1,535,000 $ 3,227,000 What is the maximum total depreciation deduction that Chaz may deduct in 2019?
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