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RE, a calendar-year taxpayer, purchased small tools for $50,000 on April 1, Year 4. It...

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Accounting

  1. RE, a calendar-year taxpayer, purchased small tools for $50,000 on April 1, Year 4. It also purchased small tools for $30,000 on December 1, Year 4. No other tangible personal property was purchased in Year 4. Assume RE does not expense the tools using Section 179 or bonus depreciation. Under the MACRS general depreciation system, how many months of depreciation can RE claim for Year 4?

  1. One and a half months

  2. One month.

  3. Six months.

  4. None

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