Which of the following statements about listed property is true? a. A taxpayer can...
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Accounting
Which of the following statements about listed property is true? a A taxpayer can elect to expense an asset if its business use is greater than b A taxpayer must use straightline depreciation if the business use is above c Passenger vehicles weighing pounds or less, barring specific exclusions, are considered listed property. d If business use drops below then the prior years' excess depreciation must be added to income.
Which of the following statements about listed property is true?
a A taxpayer can elect to expense an asset if its business use is greater than
b A taxpayer must use straightline depreciation if the business use is above
c Passenger vehicles weighing pounds or less, barring specific exclusions, are considered listed property.
d If business use drops below then the prior years' excess depreciation must be added to income.
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