QUESTION 16Which of the following statements with respect to the depreciation of property under MACRS in incorrect?A.Under the half-year convention, one-half year of depreciation is allowed in the year the property is placed in service.B.In some cases, when a taxpayer places a significant amount of property in service during the las quarter of the year, real property must be depreciated using a mid-quarter convention.C.The cost of property to which the MACRS rate is applied is not reduced for estimated salvage value.D.If a taxpayer elects to use the straight-line method of depreciation for property in the 5-year class, all other 5 year class property acquired during the year must also be depreciated using the straight-line method.E.Real property acquired after 1986 must be depreciated using the straight-line method.
QUESTION 16Which of the following statements with respect to the
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