Suppose I pay $9500 for a new business car, can I take a 179 for $9500

[jmanno1944]

TT says I get zero since I didn't pay more than 12000

[SweetieJean]

$1200 or $12,000?

[TaxGuyBill]

Is the vehicle used more than 50% for business?

Does the total "earned income" (profit from the businesses and W-2 income) exceed $9500?

I have heard other users have a problem with §179 lately, and deleting the asset/vehicle and reentering it has worked in some situations.

[SweetieJean · Accepted solution]

It is a deduction from income, not a tax credit or a refund.

The Section 179 deduction is limited to the smaller of (a) your income from the trade or business; or (b) $500,000.  Any excess deduction is carried forward.