You can only take the Section 179 deduction on assets used in a trade or business. On your personal return, this would mean you would be reporting business activities on Schedule C and would enter the information there (which is where the vehicle section is). If the business you are receiving the Schedule K-1 from took the Section 179 deduction you will enter the information in either box 11 or box 12 (depending on the Form the Schedule K-1 is for).
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