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Get your taxes done using TurboTax
Hello,
I'm having the same issue. I have a heavy SUV purchase of $107,788.
I select "I'll take the special depreciation allowance" and that's the end of it. It let's me leave the full 107k as the section 179 amount.
Then under the federal Smart Check it gives me an error on Line 39 "Enter the amount of section 179 elected"
It says too large, cannot be greater than limits below. I don't see any "limits below"
What is the correct math? 80% x purchase price or 179 limit of $28,900 + (purchase price - limit) x 80% ?
Thanks,
Justin
‎February 15, 2024
6:13 PM