1 answer

Assume that Sivart Corporation has 2019 taxable income of $1,750,000 for purposes of computing the §179...

Question:

Assume that Sivart Corporation has 2019 taxable income of $1,750,000 for purposes of computing the §179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Placed in
Asset Service Basis
Machinery June 12 $ 1,440,000
Computer equipment February 10 70,000
Delivery Truck-used August 21 93,000
Furniture April 2 310,000
Total $ 1,913,000

a. What is the maximum amount of §179 expense Sivart may deduct for 2019?

b. What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2019 on the assets it placed in service in 2019?


Answers

Hi

Let me know in case you face any issue:

Answera are highlighted in yellow: Solution: Answer: a) 179 Expense for 2019: b) Total Deductible depreciation for 2019 10200

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