Problem 10-61 (LO 10-2, LO 10-3) (Algo)IChaz Corporation has taxable income in 2023 of $1,312,100 for purposes of computing the $179 expense and acquired the followingassets during the year:AssetOffice furnitureComputer equipmentDelivery truckQualified real property (MACRS,15 year, 150% DB)TotalPlaced inServiceSeptember 12February 10August 21Basis$ 784,000934,00072,000September 301,503,000$ 3,293,000What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1, Table 2. Table 3. Table 4, andTable 5.)Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.Maximum total depreciation deductionAssessment Tool iFrame

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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.)

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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Question

Problem 10-61 (LO 10-2, LO 10-3) (Algo)
I
Chaz Corporation has taxable income in 2023 of $1,312,100 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
Basis
$ 784,000
934,000
72,000
September 30
1,503,000
$ 3,293,000
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
Assessment Tool iFrame

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