Yes, you take half the year's depreciation in the first and last years of the asset's life.
Notice the regular depreciation method shown on the right is half-year, straight line. According to IRS Pub 946:
Half-year convention. If this convention applies, you deduct a half-year of depreciation for the first year and the last year that you depreciate the property. You deduct a full year of depreciation for any other year during the recovery period.
When you choose the Section 179 deduction, you are expensing the full cost in the first year. There is no depreciation expense in subsequent years.
Choosing one method over the other is a business decision based on the income for this and subsequent years. For more info, see:
@BHancock
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