| 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 | |
Online Tutoring, Online Tutors
Wednesday 6 November 2019
AMP Corporation (calendar-year-end) has 2019 taxable income of $1,900,000 for purposes of computing
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:
a. What is the maximum amount of §179 expense
AMP may deduct for 2019?
