In recent years, Congress has enacted provisions in the tax law that permitted bonus depreciation for certain assets. a. What types of assets typically qualified for bonus depreciation? b. How does bonus depreciation interface with Sec. 179 first-year expensing? a. What types of assets typically qualified for bonus depreciation? (Select all that apply.) A. Qualified leasehold improvement property. The property can be acquired new or used. B. Qualified improvement property. Prior to 2018, the original use of the property must have begun with the taxpayer. OC Land purchased for farming D. MACRS property with a recovery period of 20 years or less E. Computer software (other than computer software that must be amortized under Sec. 197) OF Computer software that must be amortized under Sec. 197 G. MACRS property with a recovery period of 20 years or more b. How does bonus depreciation Interface with Sec. 179 first-year expensing? O A Bonus depreciation is always taken before Sec. 179 depreciation. B. Sec. 179 depreciation is taken before any bonus depreciation. OC. Sec. 179 depreciation and bonus depreciation are always taken in equal amounts OD. Sec. 179 depreciation and bonus depreciation can never be taken together. A taxpayer may only elect Sec. 179 expensing or bonus depreciation, not both. Click to select your