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February 4, 2025
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Section 179 Dialog Box

  • February 4, 2025
  • 1 reply
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On the page "How much do you want to deduct for the business use of this vehicle?"

 

I do not understand what type of number should be going in the dialog box. A percentage of the vehicle price? The entire price? A percentage number?

    Best answer by PatriciaV

    Enter the dollar amount of the Section 179 deduction you wish to take for the current tax year. The help screen you posted shows that the deduction is limited to your net income (profit) for the year. Otherwise, enter a number between $1 and the total cost of the vehicle.

    1 reply

    PatriciaV
    PatriciaVAnswer
    Employee
    February 4, 2025

    Enter the dollar amount of the Section 179 deduction you wish to take for the current tax year. The help screen you posted shows that the deduction is limited to your net income (profit) for the year. Otherwise, enter a number between $1 and the total cost of the vehicle.

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    February 4, 2025

    Just wanted to say thanks. I figured so but did not want to send this away to the irs wrong.