Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 9, 2025 9:38:55 PM

I put a vehicle into service in september 2024. TT is not allowing the section 179 deduction and it only says it has to be blank. Is this true?

0 1 690
1 Replies
Expert Alumni
Apr 10, 2025 9:50:53 AM

We are not able to view your tax return.  

 

Perhaps you are reaching the depreciation limits for a passenger automobile.  See this IRS publication, page 35.

 

Section 179 deduction 

 

The total amount of depreciation (including the section 179 deduction) you can take for a passenger automobile you use in your business and first place in service in 2024 is $12,400 ($20,400 if you take the special depreciation allowance for qualified passenger automobiles placed in service in 2024). Special rules apply to trucks and vans. For more information, see Pub. 946. It explains what property qualifies for the deduction, what limits apply to the deduction, and when and how to recapture the deduction.

 

 

Perhaps the 179 deduction is limited by your taxable income.  See this IRS publication.

 

Page 4 Line 11 

 

The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year. You are considered to actively conduct a trade or business only if you meaningfully participate in its management or operations. A mere passive investor is not considered to actively conduct a trade or business.