Under the MACRS system,the same convention that applies in the year of acquisition (e.g.,half-year,mid-quarter,or mid-month)also applies in the year of disposition.

Question

Quizplus · Accepted Answer

This statement is true. The MACRS system requires that the same convention used in the year of acquisition also be used in the year of disposition. For example, if a mid-month convention is used in the year of acquisition, it must also be used in the year of disposition.

Under the MACRS System,the Same Convention That Applies in the Year