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Does section 179 work for federal tax for tax-year 2024?

Does section 179 work for federal tax for tax-year 2024?

My TurboTax app shows "your deductibles $0" for federal.

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1 Reply
KrisD15
Expert Alumni

Does section 179 work for federal tax for tax-year 2024?

Yes.

Section 179 deduction may be used for a business asset that was placed new into service that tax year (2024) and if the deduction does not cause a business loss. 

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