A method of depreciation on tangible personal property that is placed into service during any quarter of the taxable period year where the cost basis exceeds 40% of the total basis of all property placed into service during the entire year. Exempt property includes residential rental property, nonresidential property and property that is depreciated using a method other than MACRS. Property place into service and disposed of in the same tax year is also exempt.
Related information about mid-quarter convention:
- Applicable convention - Wikipedia, the free encyclopedia
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 ...
- Mid-Quarter Convention - Federal Real Estate Tax Rules for ...
A mid-quarter convention generally applies if the total cost basis of business equipment placed in service during the last three months of the tax year exceed ...
- When Does Depreciation Begin?
The mid-quarter convention. However, there's an important exception to the half- year convention described above. If Uncle Sam were going to give you a half ...
- What is mid-quarter convention? definition and meaning
Definition of mid-quarter convention: A method of depreciation on tangible personal property that is placed into service during any quarter of the taxable period ...
- Mid-Quarter Convention (USA) (SAP Library - United States)
There are certain tax laws (mid-quarter convention) in the United States that require you to calculate depreciation on the basis of half-periods. When the fiscal ...
- Mid-Quarter Convention - Financial Dictionary - The Free Dictionary
A method in which the owner of some asset is allowed one half-quarter of depreciation in the quarter that the asset is purchased or sold (or otherwise disposed ...
- Instructions for Form 4562 (2011)
In determining whether the mid-quarter convention applies, do not take into ... The mid-quarter convention treats all property placed in service (or disposed of) ...
- 26 CFR 1.168(d)-1 - Regulations - United States - vLex
Under section 168(d)(3)(A), the mid-quarter convention applies to depreciable ... (b) Additional rules for determining whether the mid-quarter convention applies ...