topic Re: Section 179 in Get your taxes done using TurboTax

Section 179

Lynn — Mon, 16 Apr 2018 04:45:55 GMT

I am trying to take a Section 179 deduction for equipment purchased for job. Previous years of Turbo Tax let you make a selection of 179. How do you do that selection in TurboTax Premiere 2017?

Re: Section 179

JennyC — Mon, 16 Apr 2018 19:03:30 GMT

Hello,

If your asset qualifies for the 179 deduction, you will be able to select that option. Here's where to find that section and enter the information:

1. Type sch c in the search bar and click search.
2. Click on Jump to sch c.
3. Edit your business.
4. At the Your XXX Business screen, scroll down to Business Assets and click start/edit.
5. Continue with the onscreen interview and TurboTax will ask you if you qualify to tax the Section 179 deduction.

Here's some additional information as well:
https://ttlc.intuit.com/questions/3673083-section-179-expense-deduction-disallowed-what-does-this-mean

Re: Section 179

Anonymous — Wed, 01 Apr 2020 19:10:43 GMT

There is no option or questions for me to access section 179. I have tried for hours and searched for an answer and nothing. Do I need a business version of turbo tax? I just want to write off the laptop I purchased for my small home business.

Re: Section 179

JamesG1 — Wed, 01 Apr 2020 20:00:18 GMT

Premier should be able to handle this transaction. Try these steps.

At the screen Your property assets, click Edit for the asset to be edited.
Continue through the screens until you reach How do you want to deduct this item?
Click on I’ll deduct the full value of the item this year.
At the screen Asset Summary, click on Show Details to see the section 179 deduction.