Assume that ACW Corporation has 2020 taxable income of $1,540,000 for purposes of computing the §179...

Assume that ACW Corporation has 2020 taxable income of $1,540,000 for purposes of computing the §179 expense. The company acquired the following assets during 2020 (assume no bonus depreciation): (Use MACRS Table 1, Table 2, and Table 5).

Asset	Placed in Service	Basis
Machinery	12 September	$	474,000
Computer equipment	10 February		74,000
Delivery truck	21 August		97,000
Qualified improvement property	2 April		1,384,000
Total		$	2,029,000

What is the maximum amount of §179 expense ACW may deduct for 2020?
What is the maximum total depreciation that ACW may deduct in 2020 on the assets it placed in service in 2020? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

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ekkarill92 answered 8 months ago

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