
Property expensed under the §179 immediate expensing election is not included in the 40 percent test to determine whether the mid-quarter convention must be used.
Correct Answer:
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Q2: Real property is always depreciated using the
Q3: The §179 immediate expensing election phases out
Q4: The §179 immediate expensing election phases out
Q5: If a taxpayer places only one asset
Q6: Like financial accounting, most acquired business property
Q8: Depreciation is currently computed under the Modified
Q9: All taxpayers may use the §179 immediate
Q10: The 200 percent or double declining balance
Q11: Tax cost recovery methods include depreciation, amortization,
Q12: If a business mistakenly claims too little
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