Assume that TDW Corporation (calendar-year-end) has 2018 taxable income of $650,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2018 taxable income of $650,000 for purposes of computing the §179 expense. The company acquired the following assets during 2018:

Asset	Placed in Service	Basis
Machinery	September 12	$2,270,000
Computer Equipment	February 10	$263,000
Furniture	April 2	$880,000
Total		$3,413,00

a. What is the maximum amount of §179 expense TDW may deduct for 2018?

b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2018 on the assets it placed in service in 2018 assuming no bonus depreciation

Solutions

Expert Solution

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $650,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $650,000 for purposes of computing the §179 expense. The company acquired the following assets during 2020: (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 2020?

Assume that TDW Corporation (calendar-year-end) has 2018 taxable income of $674,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2018 taxable income of $674,000 for purposes of computing the §179 expense. The company acquired the following assets during 2018: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 2,273,000 Computer equipment February 10 266,900 Furniture April 2 885,100 Total $ 3,425,000 b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2018 on the assets...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $668,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $668,000 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 $ 2,272,250 Computer equipment February 10 265,925 Furniture April 2 883,825 Total $ 3,422,000 a. What is the maximum amount of §179 expense TDW may deduct for 2019? b. What is the maximum...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $698,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $698,000 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 $ 2,276,000 Computer equipment February 10 270,800 Furniture April 2 890,200 Total $ 3,437,000 b. What is the maximum total depreciation, including §179 expense, that TDW may deduct in 2019 on the assets...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $680,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2019 taxable income of $680,000 for purposes of computing the §179 expense. The company acquired the following assets during 2019: Asset Placed in Service Basis Machinery Sept. 12 2,273,750 Computer Equipment Feb. 10 267,875 Furniture April 2 886,375 Total 3,428,000 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 bonus depreciation?

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $654,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $654,000 for purposes of computing the §179 expense. The company acquired the following assets during 2020: (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 2020?

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $656,000 for purposes of computing the...

Assume that TDW Corporation (calendar-year-end) has 2020 taxable income of $656,000 for purposes of computing the §179 expense. The company acquired the following assets during 2020: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Placed in Asset Service Basis Machinery September 12 $ 2,270,750 Computer equipment February 10 263,975 Furniture April 2 881,275 Total $ 3,416,000 a. What is the maximum amount of §179 expense TDW may deduct for 2020? b. What is the maximum...

Assume that TDW Corporation (calendar year end) has 2019 taxable income of $650,000 before the §179...

Assume that TDW Corporation (calendar year end) has 2019 taxable income of $650,000 before the §179 expense, acquired the following assets during 2019: Asset Placed in Service Basis Machinery October 12 $2,260,000 Computer Equipment February 10 263,000 Furniture April 2 880,000 Total $3,403,000 What is the maximum amount of §179 expense TDW may deduct for 2019?

Assume AMP Corporation (calendar year end) has 2017 taxable income of $900,000 for purposes of computing...

Assume AMP Corporation (calendar year end) has 2017 taxable income of $900,000 for purposes of computing the §179 expense. During 2017, AMP acquired the following assets: 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 2017? b. What is the maximum total depreciation expense, including §179 expense, that AMP may deduct in 2017...

AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing the §179 expense....

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...

Subjects