Mid-quarter depreciation

[Black Bart]

Is 39 year commercial real property subject to this? Is it mid-month/ full-month? Computer says MQ, but I was thinkin' that was for things other than real property.

Gonna have to print out some forms and actually do one by hand one of these days, just so I'll know what the machine is doing for me and why.

[KJ Judd]

You are correct, Black Bart. Real Property is not subject to mid-quarter convention since you calculate it based on month in service.

[jimmcg]

General rule is real property is mid-month convention while tangible personal property is half-year convention unless more than forty percent acquired in fourth quarter in which case it is mid-quarter convention........That's the general rule before considering exceptions to the rule.