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can i get a 179 expense on the pickup i bought 8/09/2024

 
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1 Reply
MindyB
Expert Alumni

can i get a 179 expense on the pickup i bought 8/09/2024

Yes, if it's used for business. When you enter the vehicle, you will be able to indicate how much Section 179 expense you'd like to take.

 

Here are the steps in TurboTax Online:

 

  1. Navigate to Federal > Wages & Income > Self-employment income and expenses
  2. Edit your business 
  3. Choose add expenses for this work
  4. Choose Vehicle and Continue
  5. Vehicle now appears in the list of expenses, choose the pencil icon to the right of vehicle expenses
  6. Answer the interview questions about the vehicle, and enter the related expenses.
  7. Continue through interview, answering the date you bought the vehicle in 2024.  You will come to a screen How much do you want to deduct for the business use of this vehicle? where you can claim Section 179 expense.

 

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