Chaz Corporation has taxable income in 2018 of $356,000 for purposes of computing the 179...
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Accounting
Chaz Corporation has taxable income in 2018 of $356,000 for purposes of computing the 179 expense and acquired the following assets during the year:
Assume that the qualified improvement property has satisfied the conditions mentioned under Section 179(f)(2).
Placed in
Asset
Service
Basis
Office furniture
September 12
$
721,000
Computer equipment
February 10
928,000
Delivery truck
August 21
64,000
Qualified improvement property
September 30
1,529,000
Total
$
3,242,000
What is the maximum total depreciation deduction that Chaz may deduct in 2018? (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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