Maximum Amount Harry Corporation Assignment
February 21st, 2020
On March 1, 2017, Harry Corporation (a calendar-year taxpayer) purchased and placed in service office furniture costing $550,000.
Compute the maximum amount Harry Corporation can elect to expense under Section 179 for this furniture if a. this is the only asset placed in service this year by Harry Corporation. b. in addition to the $550,000 of office furniture, Harry Corporation also acquired and placed in service $980,000 of factory equipment during the year. c. in addition to the $550,000 of office furniture, Harry Corporation also acquired and placed in service $1,890,000 factory equipment during the year. .
