Support CenterHow do I enter Section 179 deductions in SureFire?
Generally, taxpayers can elect to expense part or all of the cost of section 179 property that they place in service during the tax year and use predominantly (more than 50%) in their trade or business. For more information see the IRS instructions for Form 4562.
SureFire will use the amount you enter here on subsequent Business Asset Worksheets that you add to this return.
Line 1, Maximum dollar limitation
If you are not preparing a state return, leave this field blank.
SureFire calculates the federal and state fields. See maximum limits above.
Line 2, Total 179 elected this return
SureFire calculates the total amount of 179 expense claimed on all Business Asset Worksheets in this return.
Line 3, 179 remaining for this property
SureFire subtracts the total amount claimed from the maximum allowed. If this amount is zero, you cannot claim the 179 expense deduction for this property.
Line 4, Auto 179 remaining for this property, if limitations apply
SureFire displays this amount if this property is an automobile used more than 50% in the business.
Line 5, 179 election amount for this property
Type the amount of 179 expense deduction the client wants to claim on this property.The client does not have to expense the entire cost of the property. SureFire calculates depreciation on the any amount over the 179 amount.
Additional Information
Para obtener la versin en espaol de este artculo de Knowledge Base, haga clic aqu:Cmo ingreso las deducciones de la Seccin 179 en SureFire?
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