cpa3917 Posted February 1, 2008 Report Posted February 1, 2008 I entered a $44,000 SUV in Asset Entry (>6000 lbs) and expected Sec 179 to be limited; however, it took the whole amount. Anyone else have this problem? Quote
Booger Posted February 1, 2008 Report Posted February 1, 2008 I entered a $44,000 SUV in Asset Entry (>6000 lbs) and expected Sec 179 to be limited; however, it took the whole amount. Anyone else have this problem? I believe that if the vehicle GVW is >6,000, there IS no limit on Section 179. Booger Quote
cpa3917 Posted February 1, 2008 Author Report Posted February 1, 2008 I believe that if the vehicle GVW is >6,000, there IS no limit on Section 179. Booger No-there is a limit-see below: As of October 22, 2004, the maximum amount that can be claimed for SUVs weighing between 6,000 and 14,000 pounds is $25,000. The remaining $77,000 can be used for other kinds of business equipment, including vehicles weighing more than 14,000 pounds. Unless this changed, ATX Asset Entry forms are wrong-its becoming harder to trust their products!! cpa3917 Quote
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