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.

---

Definitions:

Ego

Part of the personality that develops out of a need to deal with reality; mostly conscious, rational, and logical.

Person-Centered Approach

A psychotherapeutic method that emphasizes providing a supportive environment where clients can explore their feelings and who they are, as proposed by Carl Rogers.

Nondirective

A counseling or therapy approach where the therapist provides minimal direction, allowing clients to lead the conversation and arrive at their own solutions.

Rational Emotive Therapy

A cognitive-behavioral approach to therapy that focuses on changing irrational beliefs that contribute to emotional distress.