If more than 40% of the depreciable basis of personal property is placed is service during the last three months of the tax year, the taxpayer must use the mid-quarter convention.

Question

Quizplus · Accepted Answer

The mid-quarter convention is required if more than 40% of the total depreciable basis of property is placed in service in the last quarter of the tax year, according to IRS rules.

If More Than 40% of the Depreciable Basis of Personal