I want to take the Section 179 Deduction for an appliance I bought for my rental property, but TurboTax is only giving me the Special Depreciation Allowance option.Help?
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I want to take the Section 179 Deduction for an appliance I bought for my rental property, but TurboTax is only giving me the Special Depreciation Allowance option.Help?

 
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Employee Tax Expert

I want to take the Section 179 Deduction for an appliance I bought for my rental property, but TurboTax is only giving me the Special Depreciation Allowance option.Help?

To qualify for the section 179 deduction, your property must have been acquired for use in your trade or business. 

Property you acquire only for the production of income, such as investment property, rental property (if renting property is not your trade or business), and property that produces royalties, does not qualify. 

But the appliance does qualify for the Special Depreciation Allowance.

See page 17 of IRS pub below.

https://www.irs.gov/pub/irs-pdf/p946.pdf

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