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Section 179 Expense Elected Too Large

DAH — Mon, 17 Feb 2020 18:42:35 GMT

Under Part VI- Vehicle Depreciation Information Car & Truck Expense Work Sheet

What do enter for item Number 34. Enter the amount of Section 179 expense elected? When I enter the total cost of the vehicle purchase (same number for iten Number 33) TurboTax says : "Sec. 179 is too large"

Please advise

Re: Section 179 Expense Elected Too Large

ThomasM125 — Mon, 17 Feb 2020 20:59:20 GMT

There is a limit of $25,000 on section 179 election for SUV's or most vehicles with a gross vehicle weight of over 6,000 lbs.

There is a limit of $11,160 for section 179 expense for passenger vehicles, and $11,560 for trucks and vans.

Re: Section 179 Expense Elected Too Large

DAH — Tue, 18 Feb 2020 01:21:20 GMT

Thanks. Interesting that adjusting the 179 expense down to the $25000 maximum limit did not negatively impact the amount of my projected refund.

Re: Section 179 Expense Elected Too Large

ljune4680 — Tue, 07 Jul 2020 01:09:11 GMT

Mine is taking out the full amount and not the limit of 11,560. What do I need to do? the asset is a passenger truck for our farm

Re: Section 179 Expense Elected Too Large

RPOSU99 — Fri, 12 Feb 2021 17:47:01 GMT

I put in the $11,560 and it is still telling me the number is too large...what do I do now??

Re: Section 179 Expense Elected Too Large

ThomasM125 — Tue, 16 Feb 2021 02:05:59 GMT

You have to have more then 50% business use of the auto to be eligible for the section 179 deduction, so please check that.