FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Chaz Corporation has taxable income in 2023 of $1,312,350 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
Maximum total depreciation deduction
Basis
$ 794,000
944,000
82,000
1,513,000
$ 3,333,000
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.
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Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,312,350 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 Maximum total depreciation deduction Basis $ 794,000 944,000 82,000 1,513,000 $ 3,333,000 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.
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