Tax depreciation is currently calculated under what system?
A) Sum of the years digits
B) Accelerated cost recovery system
C) Modified accelerated cost recovery system
D) Straight line system
E) None of these

Question

Quizplus · Accepted Answer

Tax depreciation is currently calculated using the Modified Accelerated Cost Recovery System (MACRS), which allows for faster depreciation of assets in the early years of use. The other options listed are older methods of depreciation calculation that are no longer used as widely.

Tax Depreciation Is Currently Calculated Under What System