Tax Guru – Ker$tetter Letter

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How to use Section 179

Posted by taxguru on March 3, 2007

Q:

Subject: Section 179

I read with interest your page on Section 179 deductions.  It doesn’t mention where to put the deduction found on line 12 of form 4562.  Many of us that expense simple items like computers need to know where to transfer the line 12 deduction.  Can you help please?  Thanks.

A:

The Section 179 amount is added to the regular depreciation expense and shown on the 1040 schedule where the particular asset is being used. This could be C, F, E, or A.

You really should be working with a professional tax preparer whose knowledge and software will ensure that the Section 179 is handled properly.

Good luck.

Kerry Kerstetter

 

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