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Why am I not getting to use my 179 carryover? "No vehicle deduction for this *truck*." I have entered all my truck expenses and want to use my carryover 179. $45,000

 
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2 Replies
ThomasM125
Employee Tax Expert

Why am I not getting to use my 179 carryover? "No vehicle deduction for this *truck*." I have entered all my truck expenses and want to use my carryover 179. $45,000

It is possible that you have a loss on the business before you get to the section 179 depreciation deduction, in which case it would be denied in the current period. Also, if the business use of the vehicle versus personal use dropped below 50%, you can no longer use the section 179 deduction and you may have to recapture previous years section 179 deductions.

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Why am I not getting to use my 179 carryover? "No vehicle deduction for this *truck*." I have entered all my truck expenses and want to use my carryover 179. $45,000

you should review Form 4562 because the 179 deduction is limited to net business income on line 11, however, I don't think this is possible until you make arrangements to pay your fees. The other possibility is that you did something wrong. We can see your return.

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