Which depreciation convention is the general rule for tangible personal property?
A) Half-year
B) Full-month
C) Mid-quarter
D) Mid-month
E) None of the choices are conventions for tangible personal property.

Question

Quizplus · Accepted Answer

The half-year convention is generally the rule for tangible personal property. This means that depreciation is calculated as if the property was placed in service halfway through the tax year, regardless of when it was actually placed in service.

Which Depreciation Convention Is the General Rule for Tangible Personal