What is qualified property for Bonus Depreciation?
(4 Points)
a.Property placed in service and disposed in the same year
b.Property required to be depreciated under ADS
c.Farm property held by a business electing out of interest expense limitations in IRC Sec 163(j)
d.Depreciable property with a useful life of 20 years or less
The correct answers are:
a. Property placed in service and disposed of in the same year
d. Depreciable property with a useful life of 20 years or less