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

Question

Quizplus · Accepted Answer

The half-year convention is a method used primarily for personal property (personalty) in tax calculations, allowing for a half-year's worth of depreciation in the year the property is placed in service and the year it is disposed of, regardless of the actual date of acquisition or disposal. This convention is not typically applied to real property (realty).

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