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  3. true or false and why? ____7. if combining macrs s

True or False and why? ____7. If combining MACRS section 179 and special first year...

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Accounting

True or False and why?

____7. If combining MACRS section 179 and special first year write-off exceed cost, the company will be limited to cost of item.

_____8. Special first year wrote off and section 179 can be declined, MACRS is mandatory and cant be declined.

_____9. In August 2013 you purchased a seven year MACS item. In January 2016 you sold it. For 2016 you would use the mid-quarter chart to compute the deduction.

_____10. Adam flies from New York to Utah for a very important business meeting. The meeting lasts two days and then he spends five days skiing. He would be required to allocate trip cost between business and pleasure.

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