Briefly explain why each is important to the calculation

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1. MACRS depreciation requires the use of a recovery period, method, and con- vention to depreciate tangible personal property assets. Briefly explain why each is important to the calculation.

2. Can a taxpayer with very little current year income choose to not claim any depreciation expense for the current year and thus save depreciation deductions for the future when the taxpayer expects to be more profitable?

Reference no: EM13906369

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