Question
In 2021, Dan transferred 5 year property to Fleck Corp. in a tax-deferred Section 351 transaction. Fleck took Dan's adjusted basis in the property. Dan
In 2021, Dan transferred 5 year property to Fleck Corp. in a tax-deferred Section 351 transaction. Fleck took Dan's adjusted basis in the property. Dan originally placed the depreciable property in service in 2019. What year of the depreciation schedule will Fleck use to depreciate the property?
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2001 Miller Local Government Audits
Authors: Rhett D. Harrell
1st Edition
015607219X, 978-0156072199
