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

Question

Quizplus · Accepted Answer

According to the MACRS rules, automobiles and light trucks used for business purposes are considered 5-year property and can be depreciated accordingly. Fruit-bearing trees, warehouses, and apartment complexes have different depreciation schedules and are not considered 5-year property under MACRS.

Under MACRS,5-Year Property Includes