turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

dosa8386
New Member

Is there a limit for Texas corporations on sec 179 deduction.

I am doing 2016 tax 1120 S. When I try to deduct over $ 25000.00 for sec 179 deduction, it would not allow with a message " The section 179 limit for Texas for all assets is $ 25000.00 whats wrong with this picture.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Is there a limit for Texas corporations on sec 179 deduction.

Nothing is wrong ... the state conformity rules are here :  

http://www.thetaxbook.com/updates/TheTaxBook/2016_Pages/Depreciation_Edition_Cumulative.pdf


Review TX 

Q) Conforms to Federal Section 179 Expense Limits? • $500,000 maximum deduction. • $2,010,000 investment limit. • Applies to certain real property* and off-the-shelf computer software. 

A)  No. Allows Section 179 expense up to $25,000 maximum deduction and $200,000 investment limit

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question