# Enrolled Agent Exam [Part 2] 41, MACRS Conventions — Half-Year, Mid-Quarter, Mid-Month

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-41-macrs-conventions-half-year-mid-quarter-mid-month
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-41-macrs-conventions-half-year-mid-quarter-mid-month.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-06-07T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/2a1944f5-fa6a-4846-9204-141415be4459.mp3
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Duration seconds: 227

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The half-year convention is the default for personal property, granting six months of depreciation in the first year regardless of the purchase date. - The mid-quarter convention is a mandatory test triggered if over 40% of the basis of personal property is placed in service in the final three months of the year. - When the mid-quarter convention applies, it affects all personal property placed in service during that year, not just the assets from the fourth quarter. - The mid-month convention is exclusively used for real property (residential rental and nonresidential real) and is never optional. - A common exam trap is incorrectly including real property or Section 179 property in the 40% mid-quarter test calculation. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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