Business Vehicle Section 179

Forum|Forum|4 years ago
March 24, 2022
3 replies
20 views

I have not seen anywhere it is limited, but I still just thought I'd throw this out there. Is there any kind of minimum or certain requirement for mileage for a business vehicle (other than having to be over 50% business use) to use section 179? If the client placed the vehicle in use the last couple weeks of the year, and has hardly any miles put on it, is it still ok?

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qbteachmt

Level 15

It helps to include details, such as business entity type, vehicle type, vehicle ownership and business use (operation).

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J

jjtrcka221Author

Level 3

Sorry. You're right. It is a sole proprietorship (schedule c). The vehicle is a cargo van (3/4 ton). No seating in the back. Was purchased new in 2021 by the owner of the business. Seating is in front only. The only real miles (about 300) have been getting it ready for the clients dog grooming business (got it wrapped with the business logo and customizing the back). It has made trips to get supplies for the business. The business had been going about three years, and the client sold a truck used for this business in the same year. Thanks for any replies!

qbteachmt

Level 15

The tax form provides for date placed in service. Section 179 might not be the most advantageous option for this taxpayer. Work through all options, and keep the future in mind. If you have a low income year and anticipate higher years, I would not want to waste that opportunity.

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