Boxer LLC has acquired various types of assets recently used 100% in its trade or business. Below is a list of assets acquired during 2016 and 2017: Boxer did not elect §179 expense and elected out of bonus depreciation in 2016, but would like to elect §179 expense for 2017 (assume that taxable income is sufficient). Calculate Boxer's maximum depreciation expense for 2017, (ignore bonus depreciation for 2017). If necessary, use the 2016 luxuryautomobile limitation amount for 2017. (Use MACRS Table 1 and Use MACRS Table 5 in the text)Exhibit 10-8 (Round final answer to the nearest whole number)

Question

Boxer LLC has acquired various types of assets recently used 100% in its trade or business. Below is a list of assets acquired during 2016 and 2017:  Boxer did not elect §179 expense and elected out of bonus depreciation in 2016, but would like to elect §179 expense for 2017 (assume that taxable income is sufficient). Calculate Boxer's maximum depreciation expense for 2017, (ignore bonus depreciation for 2017). If necessary, use the 2016 luxuryautomobile limitation amount for 2017. (Use MACRS Table 1 and Use MACRS Table 5 in the text)Exhibit 10-8 (Round final answer to the nearest whole number)

Quizplus · Accepted Answer

The Answer of Boxer LLC has acquired various types of assets recently used 100% in its trade or business. Below is a list of assets acquired during 2016 and 2017:  Boxer did not elect §179 expense and elected out of bonus depreciation in 2016, but would like to elect §179 expense for 2017 (assume that taxable income is sufficient). Calculate Boxer's maximum depreciation expense for 2017, (ignore bonus depreciation for 2017). If necessary, use the 2016 luxuryautomobile limitation amount for 2017. (Use MACRS Table 1 and Use MACRS Table 5 in the text)Exhibit 10-8 (Round final answer to the nearest whole number)

Boxer LLC Has Acquired Various Types of Assets Recently Used