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Half-year Convention
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Half-year convention
Half-year convention' is a principle of United States taxation law.

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Half-year Convention
A tax depreciation convention that assumes all equipment is purchased or sold at the midpoint of a taxpayer's tax year. The half-year convention allows an equipment owner to claim a half-year of depreciation deductions in the year of acquisition- as well as in the year of disposition- regardless of the actual date within the year that the equipment was placed in service or disposed of.

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