Chaz Corporation has taxable income in 2020 of $396,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office Furniture 12-Sep 621,000.00 Computer equipment 10-Feb 948,000.00 Delivery Truck 21-Aug 74,000.00 Qualified property improvement 30-Sep 1,549,000.00 Total 3,192,000.00 What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
Chaz Corporation has taxable income in 2020 of $396,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office Furniture 12-Sep 621,000.00 Computer equipment 10-Feb 948,000.00 Delivery Truck 21-Aug 74,000.00 Qualified property improvement 30-Sep 1,549,000.00 Total 3,192,000.00 What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
Chapter20: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 25P
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Chaz Corporation has taxable income in 2020 of $396,000 for purposes of computing the §179 expense and acquired the following assets during the year:
| Asset | Placed in Service | Basis |
| Office Furniture | 12-Sep | 621,000.00 |
| Computer equipment | 10-Feb | 948,000.00 |
| Delivery Truck | 21-Aug | 74,000.00 |
| Qualified property improvement | 30-Sep | 1,549,000.00 |
| Total | 3,192,000.00 |
What is the maximum total
(Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
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