Indicated by a P for personalty, R for realty, or B for both personalty and realty which are subject to the following provisions:
-Mid-quarter convention
A)personalty(P)
B)realty(R)
C)both(B)

Question

Quizplus · Accepted Answer

The mid-quarter convention is applicable to personal property (personalty), not real property (realty). It is used for tax depreciation purposes to determine the depreciation schedule for personal property acquired and placed in service during the tax year.

Indicated by a P for Personalty, R for Realty, or B