Level 12

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Bonus depreciation/ Section 179 deduction

Forum|Forum|3 years ago
October 10, 2022
1 reply
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This may be a stupid question but I just want to make sure. Assets qualify for 100% bonus depreciation. But Pennsylvania disallows special bonus depreciation, so I may switch to Section 179 which Pa allows up to certain amount. (Plenty of net income either way for Federal). If these assets qualify for special bonus depreciation, will they also qualify for Section 179 depreciation? I'm assuming yes, but you never know, and I just want to be sure. If I have to look them up I'll look them up. Thanks.

ProSeries Professional

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Best answer by sjrcpa

Most of the time what qualifies for bonus qualifies for 179 and vice versa. Off hand, my tired brain does not remember the differences.

But your run of the mill furniture, equipment, computers can use either.

sjrcpaAnswer

Level 15

Most of the time what qualifies for bonus qualifies for 179 and vice versa. Off hand, my tired brain does not remember the differences.

But your run of the mill furniture, equipment, computers can use either.

The more I know the more I don’t know.

PATAXAuthor

Level 12

Thanks, I appreciate it. Always fun when clients bring in their data at the last minute.

Level 15

Your clock is running fast ----------- it's not the last minute quite yet😁

Slava Ukraini!