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Chaz Corporation has taxable income in 2023 of $1,313,200 for purposes of computing the 5179 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 Basis September 12 February 10 $828,000 978,000 116,000 August 21 September 30 1,547,000 $ 3,469,000 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. Maximum total depreciation deduction

Chaz Corporation has taxable income in 2023 of $1,313,200 for purposes of computing the 5179 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 Basis September 12 February 10 $828,000 978,000 116,000 August 21 September 30 1,547,000 $ 3,469,000 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. Maximum total depreciation deduction

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chaz Corporation has taxable income in 2023 of $1,313,200 for purposes of computing the 5179 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 February 101 August 21 Placed in Service Basis September 12 $828,000 978,000 116,000 September 30 1,547,000 $ 3,469,000 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. Maximum total depreciation deduction
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,313,200 for purposes of computing the 5179 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 February 101 August 21 Placed in Service Basis September 12 $828,000 978,000 116,000 September 30 1,547,000 $ 3,469,000 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. Maximum total depreciation deduction
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