Under the MACRS system,automobiles and computers are classified as seven-year property.
Correct Answer:
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Q2: Because Jim and his family enjoy camping,he
Q3: MACRS recovery property includes tangible personal and
Q4: If personal-use property is converted to trade
Q5: Sec.179 tax benefits are recaptured if at
Q6: A calendar-year taxpayer places in service one
Q7: Section 179 allows taxpayers to immediately expense
Q8: On its tax return,a corporation will use
Q9: If at least 50% of the aggregate
Q10: Any Section 179 deduction that is not
Q11: In computing MACRS depreciation in the year
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