No, the taxpayer does not need to multiply the first-year table depreciation percentage by one-half. This is
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No, the taxpayer does not need to multiply the first-year table depreciation percentage by one-half. This is because first-year depreciation is built into the table, as it is already known. In the year of disposal, assuming the property is disposed of prior to the end of its recovery period, the table percentage should be multiplied by 1/2 if the half-year convention is used or, if using the mid-quarter or mid-month conventions, the table percentage should be multiplied by the appropriate number of months. reply to classmate with insigful comment
Related Book For
Understanding Business Ethics
ISBN: 9781506303239
3rd Edition
Authors: Peter A. Stanwick, Sarah D. Stanwick
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