Section 179 purchased last year

My husband is an owner operator truck driver. We bought a motorhome at the end of 2016. It sat through the winter and went nowhere. We have used it in 2017 only for business purposes. Can I claim the Section 179 this year? I did not include it on my taxes last year. When can we sell it without penalty?

posted

No, you may only take a Section 179 deduction in the year of purchase. There is no penalty for the sale. If you used in 2017 for business you will have to recapture any depreciation you took or could have taken.