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How much should I put under: Section 179 deduction?

I purchased a car to use for work ($23.678) and I don’t know how much I can enter under the section 179 deduction. I also don’t know if I should pick “I’ll take the special depreciation allowance” or “I don’t want to take the special depreciation allowance”. 

Thank you

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Ashby
New Member

How much should I put under: Section 179 deduction?

I would recommend leaving 179 blank/zero. Select that you will take the special depreciation allowance. Continue until it gives you a box for special depreciation.

You will be able to deduct up to $13,696. That's your choice, but you can take the whole amount. If you don't take the whole amount, the remaining will be depreciated over the next 4 years.

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2 Replies
Ashby
New Member

How much should I put under: Section 179 deduction?

I would recommend leaving 179 blank/zero. Select that you will take the special depreciation allowance. Continue until it gives you a box for special depreciation.

You will be able to deduct up to $13,696. That's your choice, but you can take the whole amount. If you don't take the whole amount, the remaining will be depreciated over the next 4 years.

How much should I put under: Section 179 deduction?

Thank you so much for your answer. Just out of curiosity, how did you get to this amount ($13,696)?
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