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Topic
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What happens if the vast majority of your assets were purchased on February 1st? How would I know whether to use mid-quarter vs mid-month calculations methods for depreciation?
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MCQ899 reads asNina Co., a calendar-year taxpayer, placed in service office furniture costing $10,000 on February 1, Year 3. Additional office furniture costing $10,000 was placed in service on November 1, Year 3. These were the only assets purchased during the year. Under MACRS depreciation, the appropriate convention and amount is:
Correct A.
mid-quarter $20,000.B.
mid-quarter $10,000; half-year $10,000.C.
half-year $20,000.D.
mid-month $20,000.AUD - 93
BEC - 87
FAR - 77
REG - 77------------
Corporate finance leaderBEC - 87 | 02/28
REG - 70 | 06/10, REMATCH | 08/30
AUD - XX | 09/10
FAR - XX | 12/10
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