Applicable convention
An applicable convention, as presented in 26 U.S.C. § 168(d) of the United States Internal Revenue Code, is an assumption about when property is placed into service. It is used to determine when property depreciation begins. The purpose of applicable conventions is to simplify depreciation because they do not require a taxpayer to prove to the IRS when every piece of depreciable property was placed into service.
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Applicable convention
An applicable convention, as presented in 26 U.S.C. § 168(d) of the United States Internal Revenue Code, is an assumption about when property is placed into service. It is used to determine when property depreciation begins. The purpose of applicable conventions is to simplify depreciation because they do not require a taxpayer to prove to the IRS when every piece of depreciable property was placed into service.
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An applicable convention, as p ...... d to the half-year convention.
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An applicable convention, as p ...... perty was placed into service.
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Applicable convention
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