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June 1, 2019
Question

It is asking me to enter the section 179 deduction I want to take on my vehicle. I don't know what I'm supposed to enter.

  • June 1, 2019
  • 1 reply
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I purchased my vehicle last year (2016) for $9677.00 and use it for work 81.79% of the time.

1 reply

June 1, 2019
Section 179 lets you take the entire depreciation for certain assets all in one year, instead of having to amortize the deduction over five years.  In your case, since you use the car more than 51% of the time for business you can deduct $7,915 for the deduction (81.79% of $9,677).