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posted Apr 5, 2025 11:00:42 PM

Are special depreciation allowances for qualified properties that are placed in service during the tax year the same as Section 179 deduction?

I don’t think they are the same; however, I don’t want to report my depreciation deduction from last year incorrectly. The program asks for any previous Section 179 deductions, but not any special depreciation allowances from previous years.

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1 Replies
Expert Alumni
Apr 6, 2025 12:20:30 PM

No.  The special depreciation allowance applies only for the first year you place the property in service.  

 

The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service.