Section 179 for salaried w2 employee for new commute car purchase Hi,
I am salaried employee in W2 with my employer. In year 2014 I bought a used car (Honda CRV 2009) for use to commute to my work and back home. My earlier commute car was in an accident and totaled in 2014 due to which I had to buy the replacement commute car. The replacement car is never used for personal purpose and only used for commute to work and was put in to commute use immediately after the purchase in year 2014.
The earlier car which was totaled in year 2014 was never claimed in section 179 in past tax years.
Is the section 179 one-time deduction of the purchased car's cost applicable in my scenario ?
Thanks in advance for your time and looking into it.
Thanks
Indra |