The adjusted tax basis on a depreciable asset is its

(1pts)

original cost

accumulated depreciation deducted so far

current market value

beginning basis less accumulated depreciation

8)

Taxpayers can use only the regular MACRS tax depreciation method.

(1pts)

True False

9)

Because of the half-year rule, a 5-year class life asset will still have some tax depreciation to deduct in the sixth tax year in which it is owned.

(1pts)

True False