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Benjamin a calendar year taxpayer, placed the following depreciable essays into service in 2022. February 1, furniture $5000. August 5, matchin, $5500. October 7, equipments
Benjamin a calendar year taxpayer, placed the following depreciable essays into service in 2022. February 1, furniture $5000. August 5, matchin, $5500. October 7, equipments $12000. No section 179 deduction or bonus depreciation will be claimed. Which depreciation convention is Benjamin required to use for the furniture?
Benjamin, a calendar-year taxpayer, placed the following depreciable assets into service in 2022: - February 1, furniture, $5,000. - August 5, machine, $5,500. - October 7 , equipment, $12,000. No Section 179 deduction or bonus depreciation will be claimed. Which depreciation convention is Benjamin required to use for the furniture? Half-year. Mid-quarter. Mid-month. Straight-lineStep by Step Solution
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