Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2017, representing the
Question:
Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2017, representing the company’s only purchase of tangible personal property that took place during 2017. On its 2017 tax return, how many months of MACRS depreciation may Quanti Co. claim on the tools, assuming that it does not use § 179 (immediate expensing)?
a. One-and-a-half months
b. One month
c. Six months
d. None
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Related Book For 
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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