Publication 946 |
2000 Tax Year |
Section 179 Deduction Defined
Section 179 of the Internal Revenue Code allows you to elect to
deduct all or part of the cost of certain qualifying property in the
year you place it in service. You can do this instead of recovering
the cost by taking depreciation deductions over a specified recovery
period. However, there are limits on the amount you can deduct in a
year. These limits are discussed later under Deduction Limits.
Estates and trusts cannot elect the section 179 deduction.
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