haz Corporation has taxable income in 2021 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office furniture September 12 $ 780,000 Computer equipment February 10 930,000 Delivery truck August 21 68,000 Qualified improvement property September 30 1,500,000 Total $ 3,278,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021?
haz Corporation has taxable income in 2021 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office furniture September 12 $ 780,000 Computer equipment February 10 930,000 Delivery truck August 21 68,000 Qualified improvement property September 30 1,500,000 Total $ 3,278,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chaz Corporation has taxable income in 2021 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year:
Asset | Placed in Service | Basis |
---|---|---|
Office furniture | September 12 | $ 780,000 |
Computer equipment | February 10 | 930,000 |
Delivery truck | August 21 | 68,000 |
Qualified improvement property | September 30 | 1,500,000 |
Total | $ 3,278,000 |
What is the maximum total
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