Back to Tax Deductions
QUESTION DETAIL
Related User
Votes
Last year, we adding some fixed assets to our depreciation schedule. We added a laptop for $1,400 using double declining depreciation instead of claiming a Section 179 deduction. Is there any way to take the remaining Section 179 depreciation this year?
ANSWER
The BIDaWIZ Team's Answer:
Yes, under Revenue Proclamation 2008-54 you are able to amend and elect Section 179 if you previously did not for tax years beginning after 2007 and through currently 2014.
References: Revenue Proclamation 2008-54
State: Michigan
