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Select the best answer. Which of the following statements is true when determining the convention for asset depreciation? A. The basis of assets for which
Select the best answer. Which of the following statements is true when determining the convention for asset depreciation? A. The basis of assets for which the taxpayer elects IRC Section 179 is not to be included when applying the 40% test. B. The basis of assets for which the taxpayer elects IRC Section 179 has to be included when applying the 40% test. C. The basis of property acquired and disposed of in the same tax year is to be included when applying the 40% test. D. The basis of residential rental property and nonresidential real property is to be included when applying the 40% test
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