Section 179 Review Overview

In Section 179 Review, you can view all of the asset items that have had a section 179 deduction applied to them for a specific tax year and additional book.

After you specify the tax year and additional book that you want to view, the Section 179 Review form updates to display the total amount of the section 179 deduction that has already been applied for all asset items for the tax year and additional book. You can compare that amount to the section 179 deduction limit amount, which also displays on the form. This lets you determine the remaining amount of the section 179 deduction that you can apply to other asset items before you reach the deduction limit.

You enter a section 179 deduction amount for an additional book for an asset item in the Less Section 179 Deductions field on the Additional Books tab in the Equipment Info Center. You enter the limit for a tax year for all additional books on the Section 179 tab in Configuration > Asset Management.

You also see the in-service date for the asset items and the section deduction 179 limit for a tax year that was entered on the Section 179 tab in Configuration > Asset Management. This allows you to see the limit for the year and additional book and how much of this amount you have already applied to asset items.