Skip to main content
fasteddie577
April 2, 2023
Solved

Section 179 - Used Equipment

  • April 2, 2023
  • 1 reply
  • 0 views

Hi, if a 2015 tractor was purchased in 2022, can I fully expense it under Section 179 for the 2022 tax year? Thank you

Best answer by MAK70

Yes, used equipment can be used for the 179 deduction as long as it was not purchased from a related party and you are putting it into use for the first time in the year it is claimed.

1 reply

MAK70Answer
April 2, 2023

Yes, used equipment can be used for the 179 deduction as long as it was not purchased from a related party and you are putting it into use for the first time in the year it is claimed.

fasteddie577
April 2, 2023

Thank you very much.