Chaz Corporation has taxable income in 2022 of $315,600 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture. Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150% DB) Total Placed in Service September 12 February 10 August 21 September 30 Basis $ 816,000 966,000 104,000 1,535,000 $ 3,421,000 What is the maximum total depreciation deduction that Chaz may deduct in 2022? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Maximum total depreciation deduction Answer is complete but not entirely correct. $ 1,050,000

Chaz Corporation has taxable income in 2022 of $315,600 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture. Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150% DB) Total Placed in Service September 12 February 10 August 21 September 30 Basis $ 816,000 966,000 104,000 1,535,000 $ 3,421,000 What is the maximum total depreciation deduction that Chaz may deduct in 2022? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Maximum total depreciation deduction Answer is complete but not entirely correct. $ 1,050,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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