Archive for the ‘First Year Conventions’ Category

First Year Averaging Conventions to Calculate a Depreciation Deduction (2009-7-8)

Category: Depreciation, First Year Conventions, Full Month, Half Year, Mid Month, Mid Quarter| Tags: ,| No Comments

When a piece of property is placed in service, you are required to use a particular convention to determine the depreciation deduction you will get for the year of acquisition.  Below are the most commonly used convention types:
Half-Year (HALFYR): During the year an asset is acquired, only six months of depreciation is allowed regardless of [...]