Taxation for Decision Makers 2019
The Mid-Year and Mid-Month Are Acceptable Conventions for Depreciating Personalty.
The mid-year and mid-month are acceptable conventions for depreciating personalty.
Explore answers and all related questions
The MACRS life for all realty is 27½ years.
The first year's depreciation for equipment acquired in October by a calendar-year business would be based on 1½ months if it was the only asset acquired that year.
If more than 40 percent of all personalty purchased during the year is placed in service during the last quarter of the year, the mid-quarter convention must be used.
Explore all questions
How it work
Terms And Conditions
© 2020 QuizPlus. All Right Reserved