Chaz Corporation has taxable income in 2021 of $312,000 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Maximum total depreciation deduction Basis $ 780,000 930,000 68,000 1,500,000 $ 3,278,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Chaz Corporation has taxable income in 2021 of $312,000 for purposes of computing the §179 expense and acquired the following
assets during the year:
Asset
Office furniture
Computer equipment
Delivery truck
Qualified improvement property
Total
Placed in
Service
September 12
February 10
August 21
September 30
Maximum total depreciation deduction
Basis
$ 780,000
930,000
68,000
1,500,000
$ 3,278,000
What is the maximum total depreciation deduction that Chaz may deduct in 2021? (Use MACRS Table 1, Table 2, Table 3, Table 4 and
Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Transcribed Image Text:Chaz Corporation has taxable income in 2021 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Maximum total depreciation deduction Basis $ 780,000 930,000 68,000 1,500,000 $ 3,278,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
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