If a Taxpayer Places Only One Asset (A Building)in Service

question 128

True/False

If a taxpayer places only one asset (a building)in service during the fourth quarter of the year, the mid-quarter convention must be used.

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Definitions:

Eugene Debs

An American socialist, political activist, and trade unionist, known for his leadership in the labor movement and founding the Industrial Workers of the World.

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A set of fundamental principles or established precedents according to which a state or other organization is governed.

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