Explore the 1,000’s of tax questions answered by professionals.

Back to

QUESTION DETAIL

Related User

Votes

If I elect a Section 179 deduction for purchasing a new vehicle for business this year, can the write off be carried over into the next year if it is not all applied to this year's income?


ANSWER


The BIDaWIZ Team's Answer:

Yes, any unused Section 179 amount can be carried forward indefinitely and used to offset future year's business income.

The BIDaWIZ Team

 

 

  • Currently 4.6190/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
1547 Ans.