For many years I have deducted purchases under $2500 like phones or laptops as expenses via section 179. However in my 2022 return, I am not given the option to do that. The program defaults to 10-year depreciation. Why would that be, and is there a way to change that?
You'll need to sign in or create an account to connect with an expert.
Your new property may not be eligible for the Section 179 deduction. See Section 179 property for specifics on qualified assets.
what type of property and used for what purpse? 10 year depreciable life is rare
you may want to review IRS PUB 946 Table B-1 GDS/MACRS column which is the default recovery period
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Anonymous1420
Level 1
Bluesters
Level 2
user17719824831
New Member
mc257
New Member
lorizapata66
New Member