Section 179 Depreciation for Work Truck over 6,000 lbs

[KMCCOMB-PFS]

I am trying to enter a work truck in the depreciation schedule that exceeds 6,000 lbs. The total cost is $65,863. I put it under Autos/Transportation Equip, Method: MACRS 5-year % Vehicles over 6,000 lbs, No Limits. It is still capping the section 179 at $18,200. How do I get it to remove the cap? I tried putting in the full purchase price under Current Section 179 expense and it still won't work.

[abctax55]

2021 or 2022 software?

[abctax55]

And which module?

And, why not bonus or have you elected out of bonus?

[KMCCOMB-PFS]

I am currently in the 2021 software, this is for a schedule C.

[KMCCOMB-PFS]

No I did not elect out of bonus, will to do either, Lacerte is not allowing it though.

[abctax55]

Confirm you are using *43* for method.

It is working for me.

Is this the only asset acquired for the year?

Any §179 flowing from somewhere else?

Maybe take out the "category" (shouldn't matter...)?

Delete & re-enter?

[qbteachmt]

Are you creating a loss?

[AlabamaTaxman]

Did you check to see if the rest of the cost showed up under the regular and/or bonus depreciation schedule?

Or, maybe suppressing the Sec. 179 deduction will put the entire cost under regular or bonus depreciation.

[George4Tacks]

This seems to work perfectly - compare it to what you have a tell me the difference