The cost recovery period for 3-year class property is 4 years.
Correct Answer:
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Q2: The maximum cost recovery method for all
Q3: Under MACRS, if the mid-quarter convention is
Q4: The cost recovery basis for property converted
Q5: Taxable income for purposes of § 179
Q6: The factor for determining the cost recovery
Q6: The § 179 deduction can exceed $1,000,000
Q9: Motel buildings have a cost recovery period
Q11: Land improvements are generally not eligible for
Q16: The basis of cost recovery property must
Q19: Under the MACRS straight-line election for personalty,
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