TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

Form 179

Forum|Forum|1 year ago
May 22, 2024
1 reply
0 views

How can I maximize my vehicle deduction for business on form 179? What is the max? I bought a $60,000 work truck.

Here is an IRS publication on section 179: Look at the paragraph titled "Depreciation limits on business vehicles."

https://www.irs.gov/publications/p946#:~:text=The%20total%20section%20179%20deduction,depreciation%20allowance%20does%20not%20apply.

And then an explanation of the maximum depreciation deduction in Chapter 5 of the above link.