Would this qualify for Section 179 Deduction?

[AndrewG25]

I am starting an LLC this month and I plan to purchase an SUV (6000+lbs) in December. 

• Do I need to be in business the entire year to qualify for the entire Section 179 with bonus depreciation deduction? Or would it be prorated since I started in May?
• If the SUV is purchased in December, and it's used 80% for business, can I still deduct 80% of the value even though it was only in service for a month (December) and I haven't been in business the full year? How does that work?

[AmyC]

1. No  2. Yes  3. No  4. See Publication 946, How to Depreciate Property. Your SUV is less than 14.000 pounds and is listed property which means special rules.

• See page 53 for listed property.
• See chapter 2 for sec 179.
• See page 60 for the maximum deduction allowed.
• Page 62 has a worksheet for you to determine your allowed deduction.