SlideShare a Scribd company logo
Explain the use of the half year convention for MACRS deprecation for assets other than real
estate and the exception to the half-year convention rule.
Year of the acquisition
Year of disposal
Mid-quarter convention
Solution
An applicable convention, is an assumption about when property is placed into service. It is used
to determine when property depreciation begins.
There are three types of conventions. The first, the “half-year convention,” assumes that all
property placed into service, or disposed of, during a taxable year was placed into service, or
disposed of, at the midpoint of that year.
The second, the “mid-month convention,” assumes that all property placed into service, or
disposed of, during any month was placed into service, or disposed of, at the midpoint of that
month.
The third, the “mid-quarter convention,” assumes that all property placed into service, or
disposed of, during any quarter of a taxable year was placed into service, or disposed of, at the
midpoint of that quarter.
Half-Year Convention
This convention applies to all depreciable tangible personal property. Exemptions: Residential
rental and non residential real property Property subject to mid-quarter convention
Mid-quarter convention
If more than 40% of the total basis of property is placed in service during the last three months of
the tax year, the mid-quarter convention applies. Exemptions: Property that is being depreciated
under a method other than MACRS.

More Related Content

Similar to Explain the use of the half year convention for MACRS deprecation fo.pdf

Leasing
LeasingLeasing
18632726 leasing-and-hire-purchase contract in banking sector
18632726 leasing-and-hire-purchase contract in banking sector18632726 leasing-and-hire-purchase contract in banking sector
18632726 leasing-and-hire-purchase contract in banking sector
Karishma Kolhe
 
Ib&fs module 6
Ib&fs module 6Ib&fs module 6
Vietnam Accounting Standards - VAS 06 Leases
Vietnam Accounting Standards - VAS 06 LeasesVietnam Accounting Standards - VAS 06 Leases
Vietnam Accounting Standards - VAS 06 Leases
AC&C Consulting Co., Ltd.
 
Leasing
LeasingLeasing
Financial management
Financial managementFinancial management
Financial managementShobha Rani
 
Leasing 130119075852-phpapp01
Leasing 130119075852-phpapp01Leasing 130119075852-phpapp01
Leasing 130119075852-phpapp01himanshujaiswal
 
Accounting for Leases .docx
Accounting for Leases                                           .docxAccounting for Leases                                           .docx
Accounting for Leases .docx
MARK547399
 
IAS 17
IAS 17IAS 17
IAS 17RS P
 
Itm.leasing
Itm.leasing Itm.leasing
Itm.leasing
Ashish Tiwari
 
Leases
LeasesLeases
LEASE as per accounting standards in IAS
LEASE as per accounting standards in IASLEASE as per accounting standards in IAS
LEASE as per accounting standards in IAS
Bojamma2
 
Chap 9 - Leases.pptx
Chap 9 - Leases.pptxChap 9 - Leases.pptx
Chap 9 - Leases.pptx
Kashif Butt
 
lease accounting and its types
lease accounting and its typeslease accounting and its types
lease accounting and its types
sangeeta saini
 
Real estate regulation
Real estate regulationReal estate regulation
Real estate regulation
ProColombia
 
Tenant's Rights Presentation
Tenant's Rights PresentationTenant's Rights Presentation
Tenant's Rights Presentation
guest4c65d6
 
2차시 제2장 국제매매계약 총칙과 계약성립
2차시   제2장 국제매매계약 총칙과 계약성립2차시   제2장 국제매매계약 총칙과 계약성립
2차시 제2장 국제매매계약 총칙과 계약성립Kunseo Park
 

Similar to Explain the use of the half year convention for MACRS deprecation fo.pdf (20)

Leasing
LeasingLeasing
Leasing
 
18632726 leasing-and-hire-purchase contract in banking sector
18632726 leasing-and-hire-purchase contract in banking sector18632726 leasing-and-hire-purchase contract in banking sector
18632726 leasing-and-hire-purchase contract in banking sector
 
Ib&fs module 6
Ib&fs module 6Ib&fs module 6
Ib&fs module 6
 
Leasing
LeasingLeasing
Leasing
 
Vietnam Accounting Standards - VAS 06 Leases
Vietnam Accounting Standards - VAS 06 LeasesVietnam Accounting Standards - VAS 06 Leases
Vietnam Accounting Standards - VAS 06 Leases
 
Leasing
LeasingLeasing
Leasing
 
Financial management
Financial managementFinancial management
Financial management
 
Leasing 130119075852-phpapp01
Leasing 130119075852-phpapp01Leasing 130119075852-phpapp01
Leasing 130119075852-phpapp01
 
Accounting for Leases .docx
Accounting for Leases                                           .docxAccounting for Leases                                           .docx
Accounting for Leases .docx
 
IAS 17
IAS 17IAS 17
IAS 17
 
Itm.leasing
Itm.leasing Itm.leasing
Itm.leasing
 
Leases
LeasesLeases
Leases
 
Lease
LeaseLease
Lease
 
LEASE as per accounting standards in IAS
LEASE as per accounting standards in IASLEASE as per accounting standards in IAS
LEASE as per accounting standards in IAS
 
Chap 9 - Leases.pptx
Chap 9 - Leases.pptxChap 9 - Leases.pptx
Chap 9 - Leases.pptx
 
lease accounting and its types
lease accounting and its typeslease accounting and its types
lease accounting and its types
 
Real estate regulation
Real estate regulationReal estate regulation
Real estate regulation
 
Tenant's Rights Presentation
Tenant's Rights PresentationTenant's Rights Presentation
Tenant's Rights Presentation
 
2차시 제2장 국제매매계약 총칙과 계약성립
2차시   제2장 국제매매계약 총칙과 계약성립2차시   제2장 국제매매계약 총칙과 계약성립
2차시 제2장 국제매매계약 총칙과 계약성립
 
Leasing forestland for hunting and minerals
Leasing forestland for hunting and mineralsLeasing forestland for hunting and minerals
Leasing forestland for hunting and minerals
 

More from hardjasonoco14599

[Quantum Mechanics] In my class we are talking about the quantum har.pdf
[Quantum Mechanics] In my class we are talking about the quantum har.pdf[Quantum Mechanics] In my class we are talking about the quantum har.pdf
[Quantum Mechanics] In my class we are talking about the quantum har.pdf
hardjasonoco14599
 
Write a function which return a list of all of the n element subset .pdf
Write a function which return a list of all of the n element subset .pdfWrite a function which return a list of all of the n element subset .pdf
Write a function which return a list of all of the n element subset .pdf
hardjasonoco14599
 
what is tax preferenceSolutionTax preferences are measures of .pdf
what is tax preferenceSolutionTax preferences are measures of .pdfwhat is tax preferenceSolutionTax preferences are measures of .pdf
what is tax preferenceSolutionTax preferences are measures of .pdf
hardjasonoco14599
 
Which of the following is true regarding homologous structuresA. .pdf
Which of the following is true regarding homologous structuresA. .pdfWhich of the following is true regarding homologous structuresA. .pdf
Which of the following is true regarding homologous structuresA. .pdf
hardjasonoco14599
 
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdf
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdfWhy is it reasonable to assume that Venus, Earth, and Mars started w.pdf
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdf
hardjasonoco14599
 
Which of the following is NOT a complication in development of an HIV.pdf
Which of the following is NOT a complication in development of an HIV.pdfWhich of the following is NOT a complication in development of an HIV.pdf
Which of the following is NOT a complication in development of an HIV.pdf
hardjasonoco14599
 
Write a C++ program that implements a binary search tree (BST) to man.pdf
Write a C++ program that implements a binary search tree (BST) to man.pdfWrite a C++ program that implements a binary search tree (BST) to man.pdf
Write a C++ program that implements a binary search tree (BST) to man.pdf
hardjasonoco14599
 
Which of the following groups is responsible for the actual developm.pdf
Which of the following groups is responsible for the actual developm.pdfWhich of the following groups is responsible for the actual developm.pdf
Which of the following groups is responsible for the actual developm.pdf
hardjasonoco14599
 
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdf
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdfWhats the role of the gastric caeca in a grasshopperSolutionGr.pdf
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdf
hardjasonoco14599
 
what does it takes to be a living organ What does it take to be a l.pdf
what does it takes to be a living organ What does it take to be a l.pdfwhat does it takes to be a living organ What does it take to be a l.pdf
what does it takes to be a living organ What does it take to be a l.pdf
hardjasonoco14599
 
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdfve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
hardjasonoco14599
 
This one is for you - assume that this pedigree shows the inheritance.pdf
This one is for you - assume that this pedigree shows the inheritance.pdfThis one is for you - assume that this pedigree shows the inheritance.pdf
This one is for you - assume that this pedigree shows the inheritance.pdf
hardjasonoco14599
 
There are 7 people in the elevator in a 10-story building. They are .pdf
There are 7 people in the elevator in a 10-story building. They are .pdfThere are 7 people in the elevator in a 10-story building. They are .pdf
There are 7 people in the elevator in a 10-story building. They are .pdf
hardjasonoco14599
 
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdfsafety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
hardjasonoco14599
 
Question 1 A ____________ is an intelligent device that controls the.pdf
Question 1 A ____________ is an intelligent device that controls the.pdfQuestion 1 A ____________ is an intelligent device that controls the.pdf
Question 1 A ____________ is an intelligent device that controls the.pdf
hardjasonoco14599
 
I finished most of the program, but having trouble with some key fea.pdf
I finished most of the program, but having trouble with some key fea.pdfI finished most of the program, but having trouble with some key fea.pdf
I finished most of the program, but having trouble with some key fea.pdf
hardjasonoco14599
 
In sliding window protocol the left wall of the sender sliding winod.pdf
In sliding window protocol the left wall of the sender sliding winod.pdfIn sliding window protocol the left wall of the sender sliding winod.pdf
In sliding window protocol the left wall of the sender sliding winod.pdf
hardjasonoco14599
 
In mice, the black allele (B) is dominant to the recessive white all.pdf
In mice, the black allele (B) is dominant to the recessive white all.pdfIn mice, the black allele (B) is dominant to the recessive white all.pdf
In mice, the black allele (B) is dominant to the recessive white all.pdf
hardjasonoco14599
 
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdfHow will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
hardjasonoco14599
 
Let R be an integral domain. Prove 1R and -1R are the only units of .pdf
Let R be an integral domain. Prove 1R and -1R are the only units of .pdfLet R be an integral domain. Prove 1R and -1R are the only units of .pdf
Let R be an integral domain. Prove 1R and -1R are the only units of .pdf
hardjasonoco14599
 

More from hardjasonoco14599 (20)

[Quantum Mechanics] In my class we are talking about the quantum har.pdf
[Quantum Mechanics] In my class we are talking about the quantum har.pdf[Quantum Mechanics] In my class we are talking about the quantum har.pdf
[Quantum Mechanics] In my class we are talking about the quantum har.pdf
 
Write a function which return a list of all of the n element subset .pdf
Write a function which return a list of all of the n element subset .pdfWrite a function which return a list of all of the n element subset .pdf
Write a function which return a list of all of the n element subset .pdf
 
what is tax preferenceSolutionTax preferences are measures of .pdf
what is tax preferenceSolutionTax preferences are measures of .pdfwhat is tax preferenceSolutionTax preferences are measures of .pdf
what is tax preferenceSolutionTax preferences are measures of .pdf
 
Which of the following is true regarding homologous structuresA. .pdf
Which of the following is true regarding homologous structuresA. .pdfWhich of the following is true regarding homologous structuresA. .pdf
Which of the following is true regarding homologous structuresA. .pdf
 
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdf
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdfWhy is it reasonable to assume that Venus, Earth, and Mars started w.pdf
Why is it reasonable to assume that Venus, Earth, and Mars started w.pdf
 
Which of the following is NOT a complication in development of an HIV.pdf
Which of the following is NOT a complication in development of an HIV.pdfWhich of the following is NOT a complication in development of an HIV.pdf
Which of the following is NOT a complication in development of an HIV.pdf
 
Write a C++ program that implements a binary search tree (BST) to man.pdf
Write a C++ program that implements a binary search tree (BST) to man.pdfWrite a C++ program that implements a binary search tree (BST) to man.pdf
Write a C++ program that implements a binary search tree (BST) to man.pdf
 
Which of the following groups is responsible for the actual developm.pdf
Which of the following groups is responsible for the actual developm.pdfWhich of the following groups is responsible for the actual developm.pdf
Which of the following groups is responsible for the actual developm.pdf
 
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdf
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdfWhats the role of the gastric caeca in a grasshopperSolutionGr.pdf
Whats the role of the gastric caeca in a grasshopperSolutionGr.pdf
 
what does it takes to be a living organ What does it take to be a l.pdf
what does it takes to be a living organ What does it take to be a l.pdfwhat does it takes to be a living organ What does it take to be a l.pdf
what does it takes to be a living organ What does it take to be a l.pdf
 
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdfve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
ve targets. ball and sodket hinge joint condyloid joint saddle jo.pdf
 
This one is for you - assume that this pedigree shows the inheritance.pdf
This one is for you - assume that this pedigree shows the inheritance.pdfThis one is for you - assume that this pedigree shows the inheritance.pdf
This one is for you - assume that this pedigree shows the inheritance.pdf
 
There are 7 people in the elevator in a 10-story building. They are .pdf
There are 7 people in the elevator in a 10-story building. They are .pdfThere are 7 people in the elevator in a 10-story building. They are .pdf
There are 7 people in the elevator in a 10-story building. They are .pdf
 
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdfsafety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
safety Construction Safety-Quiz 1 According to OSHA, what must man.pdf
 
Question 1 A ____________ is an intelligent device that controls the.pdf
Question 1 A ____________ is an intelligent device that controls the.pdfQuestion 1 A ____________ is an intelligent device that controls the.pdf
Question 1 A ____________ is an intelligent device that controls the.pdf
 
I finished most of the program, but having trouble with some key fea.pdf
I finished most of the program, but having trouble with some key fea.pdfI finished most of the program, but having trouble with some key fea.pdf
I finished most of the program, but having trouble with some key fea.pdf
 
In sliding window protocol the left wall of the sender sliding winod.pdf
In sliding window protocol the left wall of the sender sliding winod.pdfIn sliding window protocol the left wall of the sender sliding winod.pdf
In sliding window protocol the left wall of the sender sliding winod.pdf
 
In mice, the black allele (B) is dominant to the recessive white all.pdf
In mice, the black allele (B) is dominant to the recessive white all.pdfIn mice, the black allele (B) is dominant to the recessive white all.pdf
In mice, the black allele (B) is dominant to the recessive white all.pdf
 
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdfHow will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
How will the rate of diffusion of an interstitial i Impurity atom Inc.pdf
 
Let R be an integral domain. Prove 1R and -1R are the only units of .pdf
Let R be an integral domain. Prove 1R and -1R are the only units of .pdfLet R be an integral domain. Prove 1R and -1R are the only units of .pdf
Let R be an integral domain. Prove 1R and -1R are the only units of .pdf
 

Recently uploaded

special B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdfspecial B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdf
Special education needs
 
A Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in EducationA Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in Education
Peter Windle
 
Digital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and ResearchDigital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and Research
Vikramjit Singh
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
EverAndrsGuerraGuerr
 
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCECLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
BhavyaRajput3
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
Anna Sz.
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
Sandy Millin
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
TechSoup
 
The Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptxThe Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptx
DhatriParmar
 
Synthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptxSynthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptx
Pavel ( NSTU)
 
Honest Reviews of Tim Han LMA Course Program.pptx
Honest Reviews of Tim Han LMA Course Program.pptxHonest Reviews of Tim Han LMA Course Program.pptx
Honest Reviews of Tim Han LMA Course Program.pptx
timhan337
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
EugeneSaldivar
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
joachimlavalley1
 
Instructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptxInstructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptx
Jheel Barad
 
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup   New Member Orientation and Q&A (May 2024).pdfWelcome to TechSoup   New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
TechSoup
 
How to Make a Field invisible in Odoo 17
How to Make a Field invisible in Odoo 17How to Make a Field invisible in Odoo 17
How to Make a Field invisible in Odoo 17
Celine George
 
Supporting (UKRI) OA monographs at Salford.pptx
Supporting (UKRI) OA monographs at Salford.pptxSupporting (UKRI) OA monographs at Salford.pptx
Supporting (UKRI) OA monographs at Salford.pptx
Jisc
 
The Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdfThe Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdf
kaushalkr1407
 
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdfUnit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
Thiyagu K
 
Lapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdfLapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdf
Jean Carlos Nunes Paixão
 

Recently uploaded (20)

special B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdfspecial B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdf
 
A Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in EducationA Strategic Approach: GenAI in Education
A Strategic Approach: GenAI in Education
 
Digital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and ResearchDigital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and Research
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
 
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCECLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
CLASS 11 CBSE B.St Project AIDS TO TRADE - INSURANCE
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
 
The Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptxThe Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptx
 
Synthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptxSynthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptx
 
Honest Reviews of Tim Han LMA Course Program.pptx
Honest Reviews of Tim Han LMA Course Program.pptxHonest Reviews of Tim Han LMA Course Program.pptx
Honest Reviews of Tim Han LMA Course Program.pptx
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
 
Instructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptxInstructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptx
 
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup   New Member Orientation and Q&A (May 2024).pdfWelcome to TechSoup   New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
 
How to Make a Field invisible in Odoo 17
How to Make a Field invisible in Odoo 17How to Make a Field invisible in Odoo 17
How to Make a Field invisible in Odoo 17
 
Supporting (UKRI) OA monographs at Salford.pptx
Supporting (UKRI) OA monographs at Salford.pptxSupporting (UKRI) OA monographs at Salford.pptx
Supporting (UKRI) OA monographs at Salford.pptx
 
The Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdfThe Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdf
 
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdfUnit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
 
Lapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdfLapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdf
 

Explain the use of the half year convention for MACRS deprecation fo.pdf

  • 1. Explain the use of the half year convention for MACRS deprecation for assets other than real estate and the exception to the half-year convention rule. Year of the acquisition Year of disposal Mid-quarter convention Solution An applicable convention, is an assumption about when property is placed into service. It is used to determine when property depreciation begins. There are three types of conventions. The first, the “half-year convention,” assumes that all property placed into service, or disposed of, during a taxable year was placed into service, or disposed of, at the midpoint of that year. The second, the “mid-month convention,” assumes that all property placed into service, or disposed of, during any month was placed into service, or disposed of, at the midpoint of that month. The third, the “mid-quarter convention,” assumes that all property placed into service, or disposed of, during any quarter of a taxable year was placed into service, or disposed of, at the midpoint of that quarter. Half-Year Convention This convention applies to all depreciable tangible personal property. Exemptions: Residential rental and non residential real property Property subject to mid-quarter convention Mid-quarter convention If more than 40% of the total basis of property is placed in service during the last three months of the tax year, the mid-quarter convention applies. Exemptions: Property that is being depreciated under a method other than MACRS.