Is it used less than 50% for business?
To qualify for a Section 179 deduction, the asset must be:
- Tangible (you're able to touch it, which excludes intangible assets like patents or copyrights);
- Purchased (not leased) for business use;
- Used more than 50% in your business;
- Placed in service (i.e., purchased, acquired, or converted to business use) during the current tax year; and
- Acquired from a non-related party.
