Knowledge system is not enabled for this account. Redirecting to LiveHelpNow...
Section 179 property is property that you acquired by purchase for use in the active conduct of your trade or business, and is one of the following:
Section 179 property does NOT include the following:
Election to Expense Certain Property Under Section 179
You can elect to expense part or all of the cost of section 179 property that you placed in service during the tax year and used predominantly (more than 50%) in your trade or business. However, for taxpayers other than a corporation, this election does not apply to any section 179 property you purchased and leased to others unless:
For more information see IRS Instructions for Form 4562