TaxCH8[1] - BA 453 Ch 8 #...

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Unformatted text preview: BA 453 Ch 8 # 3,6,7,9,10,19,23,26,31,32,35,36,40,41,44,45,47,49 & 58 3. Land is not available for cost recovery because it does not decline on a predictable basis or have a determinable useful life. 8-4 6. The actual recovery period for the cost of an asset if the half-year convention applies is a year longer than if MACRS applies. The asset is deemed to be placed in service in the middle of the first year. 8-8 7. The asset is treated as if it was sold in the middle of the year and year of cost recovery is allowed for the year of sale. 8-8 9. When property to which the mid-quarter convention applies is disposed of, the property is treated as though it were disposed of at the midpoint of the quarter. In the quarter if disposition, cost recovery is allowed for the quarter. 8-10 10. The mid-month convention applies to real property (all eligible real estate). Regardless of when during the month the property was placed in service, it is deemed to have been placed in service at the middle of...
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This note was uploaded on 04/20/2010 for the course BA 453 taught by Professor Guild during the Fall '09 term at Humboldt State University.

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TaxCH8[1] - BA 453 Ch 8 #...

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