Tax law 179

[PortlandDMA]

What is the name of your state? OR

I have a LLC that I run on the side while also working full time. On my 1040 under what section do I deduct my business vehicle using 179?

Thanks

 

[FlyingRon]

Info on that is here:

http://www.irs.gov/pub/irs-pdf/p946.pdf

Are you eligible? What is the nature of the LLC business. Is the vehicle solely use for that business?. When did you acquire it and how?

 

[PortlandDMA]

Thanks for the reply.

I financed it with a finance company early 07 (2005 model), purchased through a dealership. My LLC has many branches to list a few;

importing
resales
salvage

Business purpose vehicle...I have a personal vehicle. I'd like to do full dep. to pay off the loan.