Under MACRS,5-year property includes:
A)Warehouse.
B)Apartment complex.
C)Automobiles and light trucks used in a trade or business.
D)Fruit-bearing trees.

Question

Quizplus · Accepted Answer

Automobiles and light trucks used in a trade or business are included under 5-year property, as per MACRS. The other options, like a warehouse, apartment complex, and fruit-bearing trees, have different recovery periods under MACRS.

Under MACRS,5-Year Property Includes