Question

Which of the following depreciation provisions are available to listed property that is used more than 50% for business purposes?

a. Section 179
b. Bonus Depreciation
c. MACRS
d. Straight-Line

Answer 1

The depreciation provisions available to listed property used more than 50% for business purpose include Section 179, Bonus Depreciation, and MACRS.

Step-by-step explanation:

The depreciation provisions available to listed property used more than 50% for business purpose include:

1. Section 179: This provision allows businesses to deduct the full cost of qualifying property in the year it is placed into service.
2. Bonus Depreciation: This provision allows businesses to deduct a percentage (usually 100%) of the cost of qualifying property in the year it is placed into service.
3. MACRS (Modified Accelerated Cost Recovery System): This is a depreciation system that allows businesses to deduct the cost of qualifying property over a specified period of time, usually through a combination of accelerated and straight-line methods.