The mid-year convention under MACRS provides that
a. Depreciation is allowable in the year of acquisition of qualified property only if the property is placed in service in the first one-half of that year.
b. One half of the year-of-acquisition depreciation is allowed regardless of when the property is placed in service during the year. One-half year's depreciation is allowable for the year of disposition.
c. Depreciation is allowable in the year of disposition only if the property is disposed of in the last one-half of that year.
d. The cost recovery deduction is based on the number of months the property was in service in the year of acquisition. Therefore, one-half month's cost recovery is allowable for the month in which the property is place in service and for the month of disposition.
b
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