Required information [The following information applies to the questions displayed below.] Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing the $179 expense. The company acquired the following assets during 2022: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 ximum §179 expense deductible Basis $2,270,000 263,000 880,000 $ 3,413,000 at is the maximum amount of §179 expense TDW may deduct for 2022?
Required information [The following information applies to the questions displayed below.] Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes of computing the $179 expense. The company acquired the following assets during 2022: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Furniture Total Placed in Service September 12 February 10 April 2 ximum §179 expense deductible Basis $2,270,000 263,000 880,000 $ 3,413,000 at is the maximum amount of §179 expense TDW may deduct for 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes
of computing the §179 expense. The company acquired the following assets during 2022: (Use MACRS
Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset
Machinery
Computer equipment
Furniture
Total
Placed in
Service
Basis
September 12 $ 2,270,000
February 10
April 2
263,000
880,000
$ 3,413,000
a. What is the maximum amount of $179 expense TDW may deduct for 2022?
Maximum §179 expense deductible
Check my work](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F095d8b26-1b47-4bdd-be40-8e11fc96c612%2F8w1lfhm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes
of computing the §179 expense. The company acquired the following assets during 2022: (Use MACRS
Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset
Machinery
Computer equipment
Furniture
Total
Placed in
Service
Basis
September 12 $ 2,270,000
February 10
April 2
263,000
880,000
$ 3,413,000
a. What is the maximum amount of $179 expense TDW may deduct for 2022?
Maximum §179 expense deductible
Check my work
![!
Required information
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes
of computing the §179 expense. The company acquired the following assets during 2022: (Use MACRS
Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset
Machinery
Computer equipment
Furniture
Total
Placed in
Service
Basis
September 12 $ 2,270,000
February 10
April 2
263,000
880,000
$ 3,413,000
b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2022 on the assets it placed
in service in 2022, assuming no bonus depreciation?
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Maximum total depreciation deduction (including §179 expense)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F095d8b26-1b47-4bdd-be40-8e11fc96c612%2Ffhf09th_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $650,000 for purposes
of computing the §179 expense. The company acquired the following assets during 2022: (Use MACRS
Table 1, Table 2, Table 3, Table 4 and Table 5.)
Asset
Machinery
Computer equipment
Furniture
Total
Placed in
Service
Basis
September 12 $ 2,270,000
February 10
April 2
263,000
880,000
$ 3,413,000
b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2022 on the assets it placed
in service in 2022, assuming no bonus depreciation?
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Maximum total depreciation deduction (including §179 expense)
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