I AM SELF-EMPLOYED AND RENOVATED MY GARAGE INTO A HOME OFFICE. CAN I TAKE A SECTION 179 DEDUCTION ON ANY OF THE CONSTRUCTION COSTS?

[Coleen3 · Accepted solution]

No. 

List of Section 179 Non Qualifying Property

• Real Property does not qualify for the Section 179 Deduction. Real Property is typically defined as land, buildings, permanent structures and the components of the permanent structures (including improvements). Other examples of property that would not qualify for the Section 179 Deduction include paved parking areas and fences.
• Property used outside the United States generally does not qualify for the Section 179 Deduction.
• Property that is used to furnish lodging is generally not qualified for the Section 179 Deduction.
• Property acquired by gift or inheritance, as well as property purchased from related parties does not qualify for the Section 179 Deduction (No, you can't sell equipment to yourself and qualify for Section 179).
• Any property that is not considered to be personal property, may not qualify for the Section 179 Deduction.
• Used Equipment (that is new to you) qualifies for Section 179, however used equipment does not qualify for Bonus Depreciation (if offered in a given tax year).