Section 179 full depreciation in first year, but TT keeps including 168(k)(7) Special Depreciation Allowance Election form

[pacoeatsataco]

I have finished preparing my taxes and am ready to file, but Turbotax keeps including the Special Depreciation Allowance Elections under IRC Section 168(k)(7) form when I preview the returns prior to filing. I used section 179 for 100% depreciation of the two items I purchased during the 2024 tax year. The best I can understand is that the election form should only be included if I am not taking 100% 179 depreciation. Any help out there? Thank you.

[KrisD15]

Section 179 Deduction is not the same as Bonus/Special Depreciation. 

If you are using Section 179 Deduction for the full cost, you are opting out of Special/Bonus Depreciation. 

[pacoeatsataco]

I can't understand why that election form is included then. The only other thing that I can think of is my business vehicle dropped below 50% business use this year after being above 50% business use last year. I also never claimed any initial depreciation on the vehicle. But, I would think that is a 5-year asset, and the election form is for a 7-year asset.

[pacoeatsataco]

So, is that form simply an election out of any Special Depreciation Allowance because I am taking 100% of the 179 deduction?

[MaryK4]

You must elect out of special depreciation so you must include the statement with your tax return. @pacoeatsataco