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Assume that Timberline Corporation has 2018 taxable income of $250,000 for purposes of computing the §179...

Assume that Timberline Corporation has 2018 taxable income of $250,000 for purposes of computing the §179 expense. It acquired the following assets in 2018: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)

Furniture (7-year) December 1 $ 460,000
Computer equipment (5-year) February 28 100,000
Copier (5-year) July 15 40,000
Machinery (7-year) May 22 490,000
Total $ 1,090,000

  1. a-1. What is the maximum amount of §179 expense Timberline may deduct for 2018?

  2. a-2. What is Timberline’s §179 carryforward to 2019, if any

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