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Chaz Corporation has taxable income in 2023 of $1,312,950 for purposes of computing the §179 expense and acquired the following assets during the year:

Chaz Corporation has taxable income in 2023 of $1,312,950 for purposes of computing the §179 expense and acquired the following assets during the year:

FINANCIAL ACCOUNTING
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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Problem 02-61 (LO 02-2, LO 02-3) (Algo) Chaz Corporation has taxable income in 2023 of $1,312,950 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 Maximum total depreciation deduction Basis $818,000 968,000 106,000 1,537,000 $ 3,429,000 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.
Transcribed Image Text:Problem 02-61 (LO 02-2, LO 02-3) (Algo) Chaz Corporation has taxable income in 2023 of $1,312,950 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 Maximum total depreciation deduction Basis $818,000 968,000 106,000 1,537,000 $ 3,429,000 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.
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