Unformatted text preview: residential rentals Various conventions – Assumptions like midyear, fullmonth, etc. Additional first year regimens
– Predecessor versions of § 179 ADR—Asset Depreciation Range (the early 1970’s)
– Most manufacturing and transportation assets were listed and given guideline lives
– So long as the life selected by an electing taxpayer for an asset was from 80% to 120% of the guideline life, it was acceptable. ACRS—19811986
Part of the Economic Recovery Tax Act of 1981.
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