Chaz Corporation has taxable income in 2023 of $1,312,500 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Placed in Service September 12 Basis $ 800,000 February 10 950,000 August 21 88,808 September 30 1,519,808 $3,357,000 Qualified real property (MACRS, 15 year, 150% DB) Total What is the maximum total depreciation deduction that Chaz may deduct in 2023? (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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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am. 1112.

Chaz Corporation has taxable income in 2023 of $1,312,500 for purposes of computing the $179 expense and acquired the following
assets during the year:
Placed in
Asset
office furniture
Computer equipment
Delivery truck
Qualified real property (MACRS,
15 year, 150 DB)
Total
Service
September 12
Basis
$ 800,000
February 10
August 21
September 30
950,000
88,808
1,519,808
$ 3,357,000
What is the maximum total depreciation deduction that Chaz may deduct in 2023? (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
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,312,500 for purposes of computing the $179 expense and acquired the following assets during the year: Placed in Asset office furniture Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150 DB) Total Service September 12 Basis $ 800,000 February 10 August 21 September 30 950,000 88,808 1,519,808 $ 3,357,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (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
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