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Modified Accelerated Cost Recovery System ( MACRS ) and Bonus Depreciation ( LO 8 . 2 ) Complete the paragraph below that explains the use
Modified Accelerated Cost Recovery System MACRS and Bonus Depreciation LO
Complete the paragraph below that explains the use of the midquarter convention for MACRS depreciation.
When a taxpayer acquires more than
fill in the blank of
of its MACRS depreciable property other than real estate during the
fill in the blank of
quarter of the year, the taxpayer must use the midquarter convention in calculating depreciation rather than the halfyear convention. This treatment requires all assets purchased
fill in the blank of
be treated as purchased in the
fill in the blank of
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