Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $654,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Placed in | |||
Asset | Service | Basis | |
Machinery | September 12 | $ | 2,270,500 |
Computer equipment | February 10 | 263,650 | |
Furniture | April 2 | 880,850 | |
Total | $ | 3,415,000 | |
a. What is the maximum amount of §179 expense TDW may deduct for 2019?
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Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $654,000 for purposes of computing the...
Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $650,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 2,270,000 Computer equipment February 10 263,000 Furniture April 2 880,000 Total $ 3,413,000 a. What is the maximum amount of §179 expense TDW may deduct for 2019? b. TDW may deduct in...
Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $694,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) a. What is the maximum amount of §179 expense TDW may deduct for 2019? b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2019 on the assets it placed in service in 2019, assuming no...
Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $652,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 2,270,250 Computer equipment February 10 263,325 Furniture April 2 880,425 Total $ 3,414,000 b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2019 on the assets...
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AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the §179 expense. During 2019, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) a. What is the maximum amount of §179 expense AMP may deduct for 2019? b. What is the maximum total depreciation, including §179 expense, that AMP may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation? Placed...
AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the §179 expense. During 2019, AMP acquired the following assets: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 1,550,000 Computer equipment February 10 365,000 Office building April 2 480,000 Total $ 2,395,000 a. What is the maximum amount of §179 expense AMP may deduct for 2019? b. What is the maximum total depreciation,...