Which statement is true regarding recapture of listed property under 280F? The year following the year of
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Question:
Which statement is true regarding recapture of listed property under §280F?
- The year following the year of recapture, use the straight-line (SL) method in the general depreciation system (GDS), as long as the business use of the item is 50% or less.
- No depreciation is claimed for the item for the year in which recapture is made.
- The year of the recapture and in all subsequent years of depreciation, use the straight-line (SL) method over the alternative depreciation system (ADS) recovery period.
- The year following the year of recapture, use the general depreciation system (GDS), unless business use of the item drops to 50% or less.
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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