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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.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Chaz Corporation has taxable income in 2023 of $1,312,950 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture Delivery truck Placed in Service September Computer February equipment 10 12 Total August 21 Qualified real property (MACRS, 15 30 year, 150% DB) September Basis $818,000 968,000 106,000 1,537,000 $ 3,429,000 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.
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,312,950 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture Delivery truck Placed in Service September Computer February equipment 10 12 Total August 21 Qualified real property (MACRS, 15 30 year, 150% DB) September Basis $818,000 968,000 106,000 1,537,000 $ 3,429,000 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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