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mrsc17
New Member

Im not sure if I should do a 179 deduction.

I purchased a trailer for business last year. My business is not longer open. How should I include this in my tax return? I read one thing that said if I do the 179 I have to continue using it at least 50% of the time, but my business is already over.
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Accepted Solutions
RichardG
New Member

Im not sure if I should do a 179 deduction.

Since your business closed last year, taking the Section 179 deduction for the trailer is not advised.  You'll be required to recapture the deduction in the next tax year due to lack of business usage.

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2 Replies
RichardG
New Member

Im not sure if I should do a 179 deduction.

Since your business closed last year, taking the Section 179 deduction for the trailer is not advised.  You'll be required to recapture the deduction in the next tax year due to lack of business usage.

View solution in original post

mrsc17
New Member

Im not sure if I should do a 179 deduction.

So should I not claim the trailer at all?
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