The maximum section 179 deduction you can elect for property you placed in service in 2007 is increased to $125,000 for qualified section 179 property. This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $500,000.
For more information on these rules please see Publication 946, “How to Depreciate Property”, or contact us.
2006
The maximum section 179 deduction you can elect for property you placed in service in 2006 is increased to $108,000 for qualified section 179 property. This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $430,000.
