Chaz Corporation has taxable income in 2023 of $1,313,000 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 $ 820,000 970,000 108,000 1,539,000 $ 3,437,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1, Table 2, Ta E. 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. $ 3,437,000
Chaz Corporation has taxable income in 2023 of $1,313,000 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 $ 820,000 970,000 108,000 1,539,000 $ 3,437,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1, Table 2, Ta E. 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. $ 3,437,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please Introduction and explanation show work without plagiarism please
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,313,000 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
$ 820,000
970,000
108,000
1,539,000
$ 3,437,000
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
X Answer is complete but not entirely correct.
$ 3,437,000 X
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