If your asset qualifies for the 179 deduction, you will be able to select that option. Here's where to find that section and enter the information:
1. Type sch c in the search bar and click search.
2. Click on Jump to sch c.
3. Edit your business.
4. At the Your XXX Business screen, scroll down to Business Assets and click start/edit.
5. Continue with the onscreen interview and TurboTax will ask you if you qualify to tax the Section 179 deduction.
Here's some additional information as well:
There is no option or questions for me to access section 179. I have tried for hours and searched for an answer and nothing. Do I need a business version of turbo tax? I just want to write off the laptop I purchased for my small home business.
Premier should be able to handle this transaction. Try these steps.