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sec 179 on a business vehicle

llfcpa
Level 3

I am inputting sec 179 on a business vehicle on a schedule C (more than 50% use) -- they system will not calculate this - is there a problem with utilizing this on a schedule C (as opposed to a 1120s, etc.)

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9 Comments 9
Terry53029
Level 14
Level 14

Is the vehicle over 6000 pounds

llfcpa
Level 3

yes, it is a 7,050 lb truck

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Terry53029
Level 14
Level 14

Program works fine, you must have data entry omission. Did you fill out the car/truck worksheet in its entirety

llfcpa
Level 3

i thought i had - i will go through again, thanks for your input

sjrcpa
Level 15

Does the Sch C have a loss?

The more I know, the more I don't know.
abctax55
Level 15

Why §179 instead of bonus depreciation?

HumanKind... Be Both
IRonMaN
Level 15

Some states starting with M have an allergic reaction to bonus depreciation but don't mind section 179 😉


Slava Ukraini!
abctax55
Level 15

Same with a certain C state.... so bonus Fed/ §179 on the state up to the max.

HumanKind... Be Both
abctax55
Level 15

But if there IS a loss on the Sch C.... bonus depreciation might not be a good idea anyway.  A classic 'it depends' situation.

NMI from the OP as there aren't enough details to give informed advice.  Or, to even answer why § 179 isn't being generated.

HumanKind... Be Both