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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