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Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business,...
11/13/2018
†Used 100% for business purposes.
Karane generated taxable income in 2018 of $1,732,500 for purposes of computing the §179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) Assume the 2017 §179 limits are the same as those in 2018. (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.)
Part b:
Complete Part I of Form 4562 for part (b). Download the Tax Form and enter the required values in the appropriate fields. Use 2018 tax rules regardless of year on tax form.
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