I am getting this error on the Smart Check: Schedule C (Graphic & Web Design) -- asset entry worksheet (Smart Watch) eligible sec 179 property has an unacceptable value

[jonyetter33]

It then gives me three answers. "No Entry", "Eligible Sec 179, Yes", "Eligible Sec 179, No". If I hit "Eligible Sec 179, Yes" it just presents me the same questions over and over again

[pk · Accepted solution]

I do not know the value you are talking about. However, do you really want to tackle section 179 ?  It results in expensing for the current year the capital expenditure of an asset that is DEPRECIABLE under section 168. A smart watch does not come under  the definition of high technology items 26USC.(I).(2).(A).

Suggest you just expense the watch.  Note that if, challenged , you must be able to prove that this device is essential for conduct of your business and is usual and necessary.  If you use it business less than 50% then the depreciation / section 179 portion must be recaptured. Avoid all this just expense it , if you can justify this as business property.

[jonyetter33]

Makes sense - just didn’t know any better, was following the prompts on the screen. Thanks for
your answer and help!