How do I elect for 100% First-Year Bonus Depreciation

[dhartttttt]

I have a client who is an S Corp and they purchased 3 brand new heavy SUVs that are over the 6,000 pound gross weight. They qualify for the first year bonus depreciation, however, when I input the amount as the section 179 deduction it says the amount is too high. Is there another box I need to check to take the full amount? I have it entered as an Asset Entry.

[dkh]

Sec179 and 100% Bonus depreciation are two different things. 

[dhartttttt]

Do you happen to know how to elect 100% First-Year Bonus Depreciation?

[dkh · Accepted solution]

If you check YES box for Qualified Property it should automatically take the 100% Bonus depr

[sjrcpa]

It's not an election. It's mandatory unless you elect out.

[PATAX]

Some states do not conform to the Federal depreciation/sect 179 rules so you may want to check the state rules to see if you will have a federal/state depreciation difference