Sec 179 expense for 75% use vehicle >6,000 lbs
First, if sec 179 expense limit is $25,000 for a vehicle with GVW over 6,000 lbs, and the vehicle is only 75% business use, would the sec 179 expense limit be $18,750 (75% of $25,000)?
Secondly, when entering sec 179 expense in ProSeries Professional Edition, I do not get any errors if I enter amounts greater than $25,000 in the sec 179 expense field. I would have expected the program to know the limits and/or apply the 75% limitation if it applies, based on the business use specified in the asset worksheet.
Can anyone address either question?
Thanks for your help.