Chaz Corporation has taxable income in 2023 of $1,313,250 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Placed in Service September 12 February 10 August 21 office furniture Computer equipment Delivery truck Qualified real property (MACRS, 15 September 30 year, 150% DB) Total Basis $ 830,000 980,000 118,000 1,549,000 $ 3,477,000 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 Answer is complete but not entirely correct. $ 2,005,450

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chaz Corporation has taxable income in 2023 of $1,313,250 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
$ 830,000
980,000
118,000
1,549,000
$ 3,477,000
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
Answer is complete but not entirely correct.
$ 2,005,450
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,313,250 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 $ 830,000 980,000 118,000 1,549,000 $ 3,477,000 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 Answer is complete but not entirely correct. $ 2,005,450
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