Section 179 Bonus Depreciation 2024 Turbotax. The section 179 option will be available after entering the cost of the asset. 179 deduction for tax years beginning in 2024 is $1.22 million.
A section 179 expense is a business asset that can be written off for tax purposes right away rather than being depreciated over time. However, these autos are eligible for 60% bonus.