Taxpayer acquires qualified property in February 2016. Which of the following is not a requirement to make bonus depreciation available for the qualified property?
A. New MACRS property with a recovery period of 20 years or less, computer software, water utility property, and qualified improvement property.
B. Original use must begin with the taxpayer.
C. Placed in service before Jan. 1, 2020.
D. Property was placed in service within one year of the acquisition date of the property.
Answer:D
Taxpayer acquires qualified property in February 2016. Which of the following is not a requirement to make bonus depreciation available for the qualified property?
A. New MACRS property with a recovery period of 20 years or less, computer software, water utility property, and qualified improvement property. B. Original use must begin with the taxpayer. C. Placed in service before Jan. 1, 2020. D. Property was placed in service within one year of the acquisition date of the property.