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Based on 2022 tax rules Sophie owns an unincorporated manufacturing business. In 2022, she...

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Accounting

Based on 2022 tax rules

Sophie owns an unincorporated manufacturing business. In 2022, she purchases and places in service $2,707,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any Sec. 179 deduction is $995,000. Sophie elects to expense the maximum under Sec. 179 and does not apply bonus depreciation. What is Sophie's maximum total cost recovery deduction (MACRS depreciation and Sec. 179) for 2022?

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