11. Which of the following is not true about the MACRS depreciation system: a. A salvage value...

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11. Which of the following is not true about the MACRS depreciation system:

a. A salvage value must be determined before depreciation percentages are applied to depreciable real estate.

b. Residential rental buildings are depreciated over 27 1/2 years straight-line.

c. Commercial real estate buildings are depreciated over 39 years straight-line.

d. No matter when during the month depreciable real estate is purchased, it is considered to have been purchased at mid-month for MACRS depreciation purposes.

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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Question Posted: Oct 10, 2024 04:01 AM

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11. Which of the following is not true about the MACRS depreciation system: a. A salvage value...

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