Truck Driver - 179 Depreciation

[Racheal]

Hi, All...

can I take a section 179 depreciation on the heavy duty trucks (semis) such as Peterbilts and Kenworths? I have a client that is an interstate truck driver and he purchased a used Kenworth for $30,000 in June 2007 and a refer trailer for $40,500 and would like to 179 the cost of these on his return.

Thank you!

Racheal

[Jiggers]

Sec 179

Hi, All...

can I take a section 179 depreciation on the heavy duty trucks (semis) such as Peterbilts and Kenworths? I have a client that is an interstate truck driver and he purchased a used Kenworth for $30,000 in June 2007 and a refer trailer for $40,500 and would like to 179 the cost of these on his return.

Thank you!

Racheal

Yes. I do it all the time.

But you have to weigh the results for future years if you Sec 179 these this year and offset income subject to SE tax. Next year you won't have that.

[Racheal]

Thank you!