Tax treatment for purchases of used property


Response to the following :

When computing the MACRS deduction in the year property is sold, the averaging convention (half-year, mid-quarter, mid-month) used in the year the property was placed in service is used ?

Neither Section 179 nor bonus depreciation is allowed on listed property ?

Section 179 is not allowed on purchases of used property.

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Taxation: Tax treatment for purchases of used property
Reference No:- TGS02109434

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