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Author Question: If personal-use property is converted to trade or business use, the basis for depreciation is the ... (Read 71 times)

sjones

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on: Sep 13, 2020

Question 1

If at least 50% of the aggregate basis of all new personal property for the tax year is placed in service during the last three months of the year, the mid-quarter convention is required.
◦ true
◦ false

Question 2

If personal-use property is converted to trade or business use, the basis for depreciation is the lesser of adjusted basis or FMV on the date of conversion.
◦ true
◦ false
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by sjones on Sep 13, 2020

olivia_paige29

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sjones

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

chjcharjto14

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Reply 3 on: Yesterday
Wow, this really help

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