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Elect Section 179 dialog

Use this window to enter section 179 expense for eligible assets.
To open this window, open the Asset List window and do one of the following steps.
  • Select Tasks, Elect Section 179.
  • Select 179 in the Asset List window.

Fields and buttons

Displays the date in service, activity, asset number, description, life, and tax basis for all current-year property that qualifies for the section 179 election.
  • Max All button:
     Select this to enter the maximum section 179 expense in the Tax Election and any state election columns for the listed assets.
  • Clear All button:
     Select this to clear the section 179 expense entered in the Tax Election and any state election columns.
  • Max button:
     Select this to enter the maximum section 179 expense in the Tax Election and any state election columns for the selected asset.
  • Clear button:
     Select this to clear the section 179 expense entered in the Tax Election and any state election columns for the selected asset.
  • Tax Election column:
     Use this column to enter the section 179 expense on qualified current-year property. This amount will be expensed for the Tax treatment (and AMT and ACE, when applicable) in the Asset Detail window.
  • State Election columns:
     Use these columns to enter the available section 179 expense on qualified current-year property for the appropriate state. This amount will be expensed for the state treatment.
Displays the total real property adjusted for the asset's business use percentage for all qualified Section 179 property.
These display the total amount of section 179 real property that has been entered in the Tax Election and state election columns.
To enter the maximum amount in the corresponding Tax Election and state election columns for a selected asset, select Max. To enter the maximum amount in the corresponding Tax Election and state election columns for the listed assets, select Max All.
Displays the total tax basis adjusted for the asset's business use percentage for all qualified Section 179 property.
These display the total amount of section 179 that has been entered in the Tax Election and state election columns.
To enter the maximum amount in the corresponding Tax Election and state election columns for a selected asset, select Max. To enter the maximum amount in the corresponding Tax Election and state election columns for the listed assets, select Max All.
Select this to open the MACRS Convention Information window, which provides details on why the half-year or mid-quarter convention applies.
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