179 Deduction Field Overview

This option is only used for assets using an ACRS or MACRS depreciation method (methods MF, MA, MT, MI, MR, AD, AA, AT, SF, SB, SA, or ST), Remaining Value method RM or RH, or a custom method. A Section 179 deduction allows you to treat the cost of a qualifying asset as an expense, rather than as a capital investment to be depreciated in the future.

Enter the amount of the asset's cost (if any) that you want to deduct. If you have already expensed the maximum amount for the year (see below) or if you are not taking the deduction, enter zero as the dollar amount.

To view Section 179 amounts for each asset and totals for the fiscal year, run the Form 4562--Depreciation and Amortization report.