Depreciation on Dodge Truck

[Florida_EA]

Would a used dodge truck weighing less than 6,000 lbs qualify for 179 deduction if place in service in Nov 2016?

[taxea]

no for 179 because it is used. Yes for depreciation at cost OR fmv

[TAXNJ]

Used not eligible? Where did you find that? Did you....

no for 179 because it is used. Yes for depreciation at cost OR fmv

look at TTB tab 9 (in part)

"Acquired by purchase. Property must be acquired by purchase and may be new or used."

See below:

Section 179 Qualifying Property
Over 50% business use. Property must be used over 50% in a trade or business to qualify for a Section 179 deduction. A portion of the deduction must be recaptured if business use falls below 50% in any year during the recovery period. See Section 179 Recapture, page 9-8.
Acquired by purchase. Property must be acquired by purchase and may be new or used. Property acquired by gift, inheritance, or trade does not qualify for a Section 179 deduction. A deduction may be available for the amount of cash (boot) paid in connection with an exchange. See Boot, Tab 6.
Tangible personal property. Tangible personal property used in a taxpayer’s trade or business is eligible for a Section 179 deduction. Examples of qualifying property include:
• Machinery, equipment, and furniture. Exceptions apply. See Property used to furnish lodging, below.
• Livestock not treated as inventory. See Farm Inventory Accounting, page 5-24.
• Single-purpose agricultural or horticultural structures.
• Storage facilities (except buildings and structural components) used in connection with distributing petroleum or any primary product of petroleum.
• Portable air conditioning or heating units.
• Off-the-shelf computer software.

[Florida_EA]

So would the Dodge truck that has not been substantially modified and has a bed that is less than 6 feet and perhaps weighing more than 6,000 lbs qualify for Section 179 deduction?

[kathyc2]

So would the Dodge truck that has not been substantially modified and has a bed that is less than 6 feet and perhaps weighing more than 6,000 lbs qualify for Section 179 deduction?

GVWR would need to be more than 6,000. You said it was placed in service 11/2016. Are you preparing 2016 or 2017 return? Obviously you could not take it on 2017 return. If you are preparing 2016 return, and the truck was previously owned, rather than purchased in Nov 2016, then it also does not qualify.