Which statement below is correct? a. Real property is depreciated using the half-year convention. b. Residential real

Question:

Which statement below is correct?
a. Real property is depreciated using the half-year convention.
b. Residential real estate is depreciated over a 39-year life.
c. One-half month of depreciation is taken for the month that real property is disposed of.
d. Salvage value is considered in MACRS depreciation.

Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...

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