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Level 3
October 16, 2023
Question

sec 179 on a business vehicle

  • October 16, 2023
  • 2 replies
  • 13 views

I am inputting sec 179 on a business vehicle on a schedule C (more than 50% use) -- they system will not calculate this - is there a problem with utilizing this on a schedule C (as opposed to a 1120s, etc.)

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2 replies

Intuit Community Champion
October 16, 2023

Is the vehicle over 6000 pounds

llfcpaAuthor
Level 3
October 16, 2023

yes, it is a 7,050 lb truck

Intuit Community Champion
October 16, 2023

Program works fine, you must have data entry omission. Did you fill out the car/truck worksheet in its entirety

abctax55
Level 15
October 16, 2023

Why §179 instead of bonus depreciation?

HumanKind... Be Both
IRonMaN
Level 15
October 16, 2023

Some states starting with M have an allergic reaction to bonus depreciation but don't mind section 179 😉

Slava Ukraini!
abctax55
Level 15
October 16, 2023

Same with a certain C state.... so bonus Fed/ §179 on the state up to the max.

HumanKind... Be Both