Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Calculation

Elect section 179 expense

Use the Section 179 Expense window to make decisions that will help you maximize the depreciation deduction for your clients.
In the Asset List window, select
Tasks
 then
Elect Section 179
.
The Elect Section 179 window displays all of the client's assets that were placed in service in the current year and are eligible for section 179. The assets listed preceding the blue line were placed in service during the last 3 months of the client's year and are prime candidates for the section 179 deduction.
You can select
Max
 to enter an asset's maximum section 179 allowed in the Tax Election and any state election columns. Or, you can enter the desired section 179 allowed in an asset's Tax Election or state election columns. The amount you enter will be expensed for the appropriate treatment.
Max All
 can be used to enter the maximum section 179 allowed in the Tax Election and any state election columns for all listed assets.
Mid-qtr FYI or Half-year FYI
 appears near each treatment column, depending on whether the mid-quarter or half-year convention applies for that column. Select it to open the MACRS Convention Information window, which explains why the mid-quarter or half-year convention applies.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close