Question
Why can $179 be more attractive than regular MACRS?
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Answer
It allows immediate expensing of qualifying property, subject to income limits.
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Question
What makes MACRS different from straight-line depreciation?
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Answer
Most personal property uses accelerated 200% declining balance, then switches to straight-line.
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Question
When is the mid-quarter convention required?
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Answer
When more than 40% of personal property is placed in service in the last quarter.
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Question
How does a wash sale affect the basis of replacement stock?
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Answer
The disallowed loss is added to the new shares' cost.
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