The use of MACRS is precluded for property placed in service prior to the enactment of either version of MACRS, unless the property is transferred in a transaction where both the owner and the user change.

Question

Quizplus · Accepted Answer

MACRS rules can only be applied to property placed in service after its enactment. However, if the ownership and user of the property changes, MACRS rules may be applied.

The Use of MACRS Is Precluded for Property Placed in Service