Under MACRS,tangible personal property used in trade or business purchased and placed into service on March 1,2015 should be depreciated for 10 months in 2015.Assume the business uses a calendar tax year and no other tangible personal property is acquired during the year.

Question

Quizplus · Accepted Answer

Under MACRS, tangible personal property is typically depreciated using the half-year convention, meaning it is assumed to be in service for half of the first year, regardless of the actual in-service date.

Under MACRS,tangible Personal Property Used in Trade or Business Purchased