Which of the following is a true statement about depreciation on listed property? a. All listed property
Question:
Which of the following is a true statement about depreciation on listed property?
a. All listed property is not depreciable, and any costs are recovered when the property is sold.
b. Cellphones and computers generally both meet the definition of listed property.
c. Listed property includes school buses and tractors.
d. If listed property is used less than 50 percent for business purposes, depreciation must be straight-line.
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Related Book For
Income Tax Fundamentals 2023
ISBN: 9780357719527
41st Edition
Authors: Gerald E. Whittenburg, Steven Gill
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