Assume that TDW Corporation ( calendar year-end) has 2022 taxable income of 654,000 for purposes of computing the expense. The company acquired the following assets during 2022MACRS and Computer equipownt In September 12 February 10 2 2,270,400 263,650 3,415,000 a What is the maximum amount of 179 expense may deduct for 20227 b. What is the maximum total depreciation, including $179 expense, that TDW may deduct in 2022 on the assets it placed in service in2022, 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) Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $654,000 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 andTable 5.)AssetMachineryComputer equipmentFurnitureTotalPlaced inServiceSeptember 12February 10April 2Maximum $179 expense deductibleBasis$ 2,270,500263,650880,850$3,415,000a. What is the maximum amount of $179 expense TDW may deduct for 2022?

Answer:- Depreciation meaning:- Depreciation is the term for the decline in value of tangible asses…

Answered: Assume that TDW Corporation ( calendar…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 5RE: Turnip Company purchased an asset at a cost of 10,000 with a 10-year life during the current year....

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Assume that TDW Corporation ( calendar year-end) has 2022 taxable income of 654,000 for purposes of computing the expense. The company acquired the following assets during 2022MACRS and Computer equipownt In September 12 February 10 2 2,270,400 263,650 3,415,000 a What is the maximum amount of 179 expense may deduct for 20227

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)

Assume that TDW Corporation (calendar year-end) has 2022 taxable income of $654,000 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
Maximum $179 expense deductible
Basis
$ 2,270,500
263,650
880,850
$3,415,000
a. What is the maximum amount of $179 expense TDW may deduct for 2022?

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