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April 16, 2025
Question

Does section 179 work for federal tax for tax-year 2024?

  • April 16, 2025
  • 1 reply
  • 0 views

Does section 179 work for federal tax for tax-year 2024?

My TurboTax app shows "your deductibles $0" for federal.

1 reply

KrisD15
April 16, 2025

Yes.

Section 179 deduction may be used for a business asset that was placed new into service that tax year (2024) and if the deduction does not cause a business loss. 

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