Chaz Corporation has taxable income in 2023 of $1,312,500 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office furniture September 12 $ 800,000 Computer equipment February 10 950,000 Delivery truck August 21 88,000 Qualified real property (MACRS, 15 year, 150% DB) September 30 1,519,000 Total $ 3,357,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023?

Chaz Corporation has taxable income in 2023 of $1,312,500 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Placed in Service Basis Office furniture September 12 $ 800,000 Computer equipment February 10 950,000 Delivery truck August 21 88,000 Qualified real property (MACRS, 15 year, 150% DB) September 30 1,519,000 Total $ 3,357,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter7: Property Transactions: Basis, Gain And Loss, And Nontaxable Exchanges

Section: Chapter Questions

Problem 1BD

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