Section 179 total property

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See also: Depreciation tax assumptions

The total cost of section 179 property placed in service during the current year is the sum of the cost basis (adjusted for the business use percentage) of all assets eligible for section 179.

Section 179 eligible assets include the following:

  • All personal property assets placed in service during the current year that are being depreciated by a method other than Memo, Land, or Amortization*, unless the assets are being forced as not eligible section 179 property on the Other tab.

    * Amortized assets with an amortization code of "167 - Computer Software" are eligible section 179 property.

  • Assets that are qualified real property (qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property) when the client's processing period is tax year 2010, 2011, 2012, 2013, 2014, and greater years.
  • Assets that are not in the Miscellaneous business activity.
  • Assets that are forced as eligible section 179 property in the Mid-Quarter & Section 179 Force Options dialog.

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