Business, 03.12.2019 06:31 Lesquirrel
Quanti co., a calendar-year taxpayer, purchased small tools for $5,000 on december 21, year 1, representing the company’s only purchase of tangible personal property that took place during year 1. assume quanti co. does not want to take §179 or bonus depreciation on the tools. on its year 1 tax return, how many months of macrs depreciation may quanti co. claim on the tools?
1. one month
2. none
3. one and a half month
4. six months.
Answers: 3
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Quanti co., a calendar-year taxpayer, purchased small tools for $5,000 on december 21, year 1, repre...
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