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    179 Deduction

    Is Section 179 expense deduction available for when personal use property is converted to otherwise qualified business use property? I can't find anything anywhere that specifically says yes.

    #2
    Originally posted by KWF View Post
    Is Section 179 expense deduction available for when personal use property is converted to otherwise qualified business use property? I can't find anything anywhere that specifically says yes.
    What type of property?

    Check the exceptions at https://www.irs.gov/publications/p94...link1000107404
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      No. In order to be eligible for the ยง179 deduction, property has to be "purchased." It can't be personal use property already owned by the taxpayer.
      Roland Slugg
      "I do what I can."

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