Under MACRS,if the mid-quarter convention is applicable,all property sold is treated as being sold at the mid-point of the quarter in which it is sold.

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This statement is true as per the rules of MACRS (Modified Accelerated Cost Recovery System). Under mid-quarter convention, if the total cost of depreciable property purchased during the last three months of the tax year exceeds 40% of the total cost of all depreciable property purchased during the year, then the mid-quarter convention applies. In such cases, all property sold is treated as being sold at the mid-point of the quarter in which it is sold.

Under MACRS,if the Mid-Quarter Convention Is Applicable,all Property Sold Is