Section 179 only applies to equipment for which you retain the incidents of ownership.
Page 4 of IRS Pub 946 defines the incidents of ownership as:
Incidents of ownership in property include the following:
• The legal title to the property.
• The legal obligation to pay for the property.
• The responsibility to pay maintenance and operating expenses.
• The duty to pay any taxes on the property.
• The risk of loss if the property is destroyed, condemned, or diminished in value through obsolescence or exhaustion.
@smbenson123
[Edited 03/15/2021 | 07:40 AM PST]
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