Outline_5_Vocabulary - Conversion to personal use Listed...

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Vocabulary list Outline 5 Recovery of capital doctrine Write-off Real property Personal property Personal-use property Income-producing property Business use/income-producing property Classification of an asset Placed-in-service Allowed versus allowable cost recovery Property converted from one use to another use Lower-of-basis rule Modified Accelerated Cost Recovery System (MACRS) Cost recovery tables Recovery period Class of property Straight line-election Alternative depreciation system (ADS) Half-year convention Year of disposition Additional first-year depreciation Bonus depreciation Qualified property New Property Placed in service Mid-quarter convention Residential rental real estate Non-residential real estate Land improvement Mid-month convention Straight-line election Class life Class-by-class basis
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Leasehold improvement Section 179 Tangible personal property Annual election Annual limitation Carried forward
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Unformatted text preview: Conversion to personal use Listed property Predominantly used for business Statutory percentage method Passenger Automobile Luxury automobile Special limitations on SUV’s Leased automobile Inclusion amount Substantiation requirement ADS Alternative depreciation system Amortization 197 intangible Self-created intangible Startup expenses Section 195 Election to expense startup expenses Amortization Goodwill Covenant not to compete Chapter 9 Qualified expenditure Transportation expense Commuting expense Temporary work station General working area Automatic mileage method Charitable contribution deduction Election Basis adjustment Actual cost method Mixed use situations Chapter 6 Investigation of a business Entering a new business Expanding an existing business Same or similar to Startup expenses Election to expense startup expenses...
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This note was uploaded on 11/07/2011 for the course ACCT 508 taught by Professor Frankel during the Spring '10 term at S.F. State.

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Outline_5_Vocabulary - Conversion to personal use Listed...

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