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New Member
posted Jun 6, 2019 3:51:13 AM

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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1 Best answer
New Member
Jun 6, 2019 3:51:14 AM

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.

2 Replies
New Member
Jun 6, 2019 3:51:14 AM

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.

New Member
Jun 6, 2019 3:51:16 AM

So should I not claim the trailer at all?