Statute section
IRC section 179
Election to expense certain depreciable business assets
Country
United States
Section
179
Updated
2026-05-20
Operative text
Section 179 allows businesses to elect to expense the cost of qualifying property up to an annual dollar limit, subject to a taxable-income limit and phase-out for total property placed in service above a threshold. The 2024 limit is $1,160,000 with phase-out beginning at $2,890,000.
Amendment history
2017-12-22
Pub. L. 115-97
TCJA increased the Section 179 limit to $1,000,000 with inflation adjustments.
Cross-references
Related guides
Related citations
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Cited by
- StatuteIRC §168
Primary sources
- 26 U.S.C. section 179Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.