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Just to be clear: it states Sec. 179 EXPENSE, not deduction.

Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) The following information applies to the questions displayed below] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017: Office furniture Machinery Used delivery $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2017 07/22/2017 08/17/2017 truck Not considered a luxury automobile. During 2017, Karane was very successful (and had no 179 limitations) and decided to acquire more assets this next year to increase its production capacity. These are the assets acquired during 2018 Computers&info. system Luxury autot Assenbly equipment Storage building $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2018 05/26/2018 08/15/2018 11/13/2018 tused 100% for business purposes. Karane generated taxable income in 2018 of $1,732,500 for purposes of computing the 5179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Assume the 2017 5179 limits are the same as those in 2018. (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part a a. Compute the maximum 2017 depreciation deductions including 5179 expense (ignoring bonus depreciation). Cost 5179 Expense MACRS Basis | MACRS Office furniture Machinery Delivery truck Totals 150,000 1,560,000 40,000 $1,750,000$ Comprehensive Problem 10-76 Part b Compute the maximum 2018 depreciation deductions including 5179 expense (ignoring bonus depreciation) Total Sec. 179MACRS Expense Current MACRS Basis MACRS Depreciation Description Cost Depreciation Deduction 2017 Assets Office furmiture Machinery Used delivery truck 2018 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals Comprehensive Problem 10-76 Part c Compute the depreciation maximum 2018 depreciation deductions including $179 expense, but now assume that Karane would like to take bonus Total Sec. 179 Expense Description Cost Bonus MACRS BasisMACRS Depreciation Depreciation Deduction 2017 Assets Office funiture Machinery Used delivery truck 2018 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) The following information applies to the questions displayed below] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017: Office furniture Machinery Used delivery $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2017 07/22/2017 08/17/2017 truck Not considered a luxury automobile. During 2017, Karane was very successful (and had no 179 limitations) and decided to acquire more assets this next year to increase its production capacity. These are the assets acquired during 2018 Computers&info. system Luxury autot Assenbly equipment Storage building $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2018 05/26/2018 08/15/2018 11/13/2018 tused 100% for business purposes. Karane generated taxable income in 2018 of $1,732,500 for purposes of computing the 5179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Assume the 2017 5179 limits are the same as those in 2018. (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part a a. Compute the maximum 2017 depreciation deductions including 5179 expense (ignoring bonus depreciation). Cost 5179 Expense MACRS Basis | MACRS Office furniture Machinery Delivery truck Totals 150,000 1,560,000 40,000 $1,750,000$ Comprehensive Problem 10-76 Part b Compute the maximum 2018 depreciation deductions including 5179 expense (ignoring bonus depreciation) Total Sec. 179MACRS Expense Current MACRS Basis MACRS Depreciation Description Cost Depreciation Deduction 2017 Assets Office furmiture Machinery Used delivery truck 2018 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals Comprehensive Problem 10-76 Part c Compute the depreciation maximum 2018 depreciation deductions including $179 expense, but now assume that Karane would like to take bonus Total Sec. 179 Expense Description Cost Bonus MACRS BasisMACRS Depreciation Depreciation Deduction 2017 Assets Office funiture Machinery Used delivery truck 2018 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals

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