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statgary
New Member

Section 179 deduction on a new vehicle

According to the new tax law (and TurboTax) I should be able to deduct the full price of an SUV with GVWR over 6000 lbs placed in service in 2018 and used exclusively for business. The one I purchased was quite expensive (Tesla X 100D) $122,000 and TurboTax is telling me that I can do 100%, but $122,000 is too high. Is this a glitch?

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1 Reply
Carl
Level 15

Section 179 deduction on a new vehicle

Does your business have "at least" that much taxable income for the tax year, from which to take the deduction? If not, then it's not a glitch.

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