Section 179 - Used Equipment

fasteddie577 · ‎April 2, 2023

Hi, if a 2015 tractor was purchased in 2022, can I fully expense it under Section 179 for the 2022 tax year? Thank you

MaryK4 · ‎April 2, 2023

Yes, used equipment can be used for the 179 deduction as long as it was not purchased from a related party and you are putting it into use for the first time in the year it is claimed.

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MaryK4 · ‎April 2, 2023

Yes, used equipment can be used for the 179 deduction as long as it was not purchased from a related party and you are putting it into use for the first time in the year it is claimed.

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fasteddie577 · ‎April 2, 2023

Thank you very much.

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Section 179 - Used Equipment