If more than 40% of the value of property, other than real property, is placed in service during the last quarter, all of the property will be allowed 1.5 months of cost recovery.

Question

Quizplus · Accepted Answer

The mid-quarter convention applies if more than 40% of the value of property is placed in service in the last quarter, but it allows for different depreciation calculations, not just 1.5 months of cost recovery.

If More Than 40% of the Value of Property, Other