Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Calculation

Enter qualified real property section 179 expenses

To enter section 179 expenses for qualified real property
in the asset module
, complete the following steps.
  1. Open the desired client and, if necessary, select an activity folder.
    Open the Asset List window for an activity.
  2. In the Asset List window, select
    Add
     to add a new asset, or choose an existing asset and select
    Modify
    .
  3. If you're adding a new asset, enter the asset's description, date in service, and information for any of the association fields at the top of the Asset Detail window.
  4. In the Depreciation tab, enter the asset cost, including the section 179 expense amount, in the
    Cost/Basis
     field of the Tax column.
  5. Select
    Method/Life Wizard
     and select the appropriate qualified real property class:
    • Leasehold improvement
    • Restaurant building improvement
    • Retail improvement
  6. Enter the expense amount in the
    Sec 179 Expense
     field of the Tax column.
    note
    Qualified real property is eligible for section 179 only when the asset was placed in service in 2011 or later.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close