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What is the maximum total depreciation

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Question - 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:

Placed in Asset Service

Basis Machinery September 12 $1,430,000

Computer equipment February 10 435,000

Office building April 2 550,000

Total $2,415,000

Required -

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

b. What is the maximum total depreciation, including §179 expense, that AMP may deduct in 2019 on the assets it placed in service in 2019, assuming no bonus depreciation?

Reference no: EM132477190

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