The maximum section 179 deduction you can elect for property you placed in service in 2011 is $500k (up from $250k previously) 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 $2 Million Dollars (up from $800k previously)
For more information on these rules please visit www.irs.gov “How to Depreciate Property”, or contact us.
