MACRS requires the use of one of three conventions. For personal property, the general and most common convention is
A)mid-life
B)mid-quarter.
C)mid-month.
D)mid-year.

Question

Quizplus · Accepted Answer

The most common convention for personal property under MACRS is the mid-year convention, which assumes that all property is placed in service in the middle of the tax year. This convention allows for a consistent and systematic depreciation schedule for tax purposes.

MACRS Requires the Use of One of Three Conventions