Cobly Company, a Calendar Year Taxpayer, Made Only One Asset

question 113

Multiple Choice

Cobly Company, a calendar year taxpayer, made only one asset purchase this year: machinery costing $1,932,500. The machinery is 7-year recovery property, and Cobly placed it in service on October 12. How many months of MACRS depreciation on the machinery is Cobly allowed? 

• A) Six months
• B) Two and one-half months
• C) One and one-half months
• D) None of the above

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Definitions:

Family Restructuring

The process of altering the family's structure, roles, or dynamics to improve functionality and relationships.

Family Sculpting

A therapeutic technique where family members physically position themselves and each other to represent emotional relationships and dynamics within the family.

Family Strengths

The positive attributes, resources, and resilience factors that are inherent within a family system, supporting its members through challenges.

Protective Factors

are conditions or attributes in individuals, families, communities, or the larger society that help mitigate or eliminate risk.