Reference no: EM132771155
Question - AMP Corporation (calendar-year-end) has 2020 taxable income of $1,900,000 for purposes of computing the §179 expense. During 2020, AMP acquired the following assets:
Placed in Asset Service Basis Machinery
September 12 $1,530,000 Computer equipment
February 10 485,000 Office building
April 2 600,000 Total $2,615,000
Required - What is the maximum total depreciation, including §179 expense, that AMP may deduct in 2020 on the assets it placed in service in 2020, assuming no bonus depreciation?