If a Machine (Seven-Year Property) Being Depreciated Using the Half-Year

question 101

True/False

If a machine (seven-year property) being depreciated using the half-year convention is disposed of during the seventh year, a taxpayer must multiply the appropriate depreciation percentage from the MACRS table percentage by 50 percent to calculate the depreciation expense properly.

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Definitions:

Max Function

A mathematical function often used in programming and spreadsheet applications that returns the greatest value from a set of numbers.

Count Function

A feature or formula in spreadsheet and database software used to tally the number of entries in a particular dataset or criteria.

Counta Function

A feature in spreadsheet applications that tallies the quantity of non-empty cells within a specified range.

Min Function

A programming function that determines the smallest value among its arguments or elements in a data set.