26 U.S.C. 179: Election to expense certain depreciable business assets

2018

• Pub. L. 115–141, §401(b)(15)(B), substituted "subsection (e)" for "subsection (f)". (Consolidated Appropriations Act, 2018) Law text · (d)
• Pub. L. 115–141, §401(b)(15)(A), redesignated subsec. (f) as (e) and struck out former subsec. (e) which related to special rules for qualified disaster assistance property. (Consolidated Appropriations Act, 2018) Law text · (e), (f)

2017

• Pub. L. 115–97, §13101(a)(1), substituted "$1,000,000" for "$500,000". Law text · (b)
• Pub. L. 115–97, §13101(a)(2), substituted "$2,500,000" for "$2,000,000". Law text · (b)
• Pub. L. 115–97, §13101(a)(3)(B)(i), substituted "paragraphs (1), (2), and (5)(A)" for "paragraphs (1) and (2)" in introductory provisions. Law text · (b)
• Pub. L. 115–97, §13101(a)(3)(A)(i), substituted "2018" for "2015" in introductory provisions. Law text · (b)
• Pub. L. 115–97, §13101(a)(3)(A)(ii), substituted "calendar year 2017" for "calendar year 2014". Law text · (b)
• Pub. L. 115–97, §11002(d)(1)(R), substituted "for 'calendar year 2016' in subparagraph (A)(ii)" for "for 'calendar year 1992' in subparagraph (B)". Law text · (b)
• Pub. L. 115–97, §13101(a)(3)(B)(ii), inserted "($100 in the case of any increase in the amount under paragraph (5)(A))" after "$10,000". Law text · (b)
• Pub. L. 115–97, §13101(c), inserted "(other than paragraph (2) thereof)" after "section 50(b)" in concluding provisions. Law text · (d)
• Pub. L. 115–97, §13101(b)(1), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "which is section 1245 property (as defined in section 1245(a)(3)), and". Law text · (d)
• Pub. L. 115–97, §13101(b)(2), amended subsec. (f) generally. Prior to amendment, subsec. (f) consisted of pars. (1) and (2) defining "section 179 property" and "qualified real property", respectively. Law text · (f)

2015

• Pub. L. 114–113, §124(a)(1), substituted "shall not exceed $500,000." for "shall not exceed— (Consolidated Appropriations Act, 2016) Law text · (b)
• Pub. L. 114–113, §124(a)(2), substituted "exceeds $2,000,000." for "exceeds— (Consolidated Appropriations Act, 2016) Law text · (b)
• Pub. L. 114–113, §124(f), added par. (6). (Consolidated Appropriations Act, 2016) Law text · (b)
• Pub. L. 114–113, §124(d), struck out "irrevocable" after "Election" in heading and "may not be revoked except with the consent of the Secretary. Any such election or specification with respect to any taxable year beginning after 2002 and before 2015" after "such election," in text. (Consolidated Appropriations Act, 2016) Law text · (c)
• Pub. L. 114–113, §124(e), struck out "and shall not include air conditioning or heating units" after "section 50(b)" in concluding provisions. (Consolidated Appropriations Act, 2016) Law text · (d)
• Pub. L. 114–113, §124(b), substituted "and to which section 167 applies" for ", to which section 167 applies, and which is placed in service in a taxable year beginning after 2002 and before 2015". (Consolidated Appropriations Act, 2016) Law text · (d)
• Pub. L. 114–113, §124(c)(2)(A), struck out "beginning after 2009 and before 2016" after "any taxable year" in introductory provisions. (Consolidated Appropriations Act, 2016) Law text · (f)
• Pub. L. 114–113, §124(c)(1)(A), substituted "2016" for "2015" in introductory provisions. (Consolidated Appropriations Act, 2016) Law text · (f)
• Pub. L. 114–113, §124(c)(2)(B), struck out par. (3). Text read as follows: "For purposes of applying the limitation under subsection (b)(1)(B), not more than $250,000 of the aggregate cost which is taken into account under subsection (a) for any taxable year may be attributable to q… (Consolidated Appropriations Act, 2016) Law text · (f)
• Pub. L. 114–113, §124(c)(2)(B), struck out par. (4) which related to limitation of carryover of amounts attributable to qualified real property. (Consolidated Appropriations Act, 2016) Law text · (f)
• Pub. L. 114–113, §124(c)(1)(B), substituted "2015" for "2014" wherever appearing. (Consolidated Appropriations Act, 2016) Law text · (f)
• Pub. L. 114–113, §124(c)(1)(C), substituted "2013, and 2014" for "and 2013" in heading. (Consolidated Appropriations Act, 2016) Law text · (f)

2014

• Pub. L. 113–295, §127(a)(1)(A), substituted "beginning after 2009 and before 2015" for "beginning in 2010, 2011, 2012, or 2013". Law text · (b)
• Pub. L. 113–295, §127(a)(1)(B), substituted "2014" for "2013". Law text · (b)
• Pub. L. 113–295, §127(a)(2)(A), substituted "beginning after 2009 and before 2015" for "beginning in 2010, 2011, 2012, or 2013". Law text · (b)
• Pub. L. 113–295, §127(a)(2)(B), substituted "2014" for "2013". Law text · (b)
• Pub. L. 113–295, §127(c), substituted "2015" for "2014". Law text · (c)
• Pub. L. 113–295, §127(b), substituted "2015" for "2014". Law text · (d)
• Pub. L. 113–295, §127(d)(1), substituted "beginning after 2009 and before 2015" for "beginning in 2010, 2011, 2012, or 2013" in introductory provisions. Law text · (f)
• Pub. L. 113–295, §127(d)(2)(A), substituted "2014" for "2013" wherever appearing. Law text · (f)
• Pub. L. 113–295, §127(d)(2)(B), substituted "2011, 2012, and 2013" for "2011 and 2012" in heading. Law text · (f)

2013

• Pub. L. 112–240, §315(a)(1)(A), substituted "2010, 2011, 2012, or 2013, and" for "2010 or 2011,". (American Taxpayer Relief Act of 2012) Law text · (b)
• Pub. L. 112–240, §315(a)(1)(B)–(D), redesignated subpar. (D) as (C), substituted "2013" for "2012", and struck out former subpar. (C) which read as follows: "$125,000 in the case of taxable years beginning in 2012, and". (American Taxpayer Relief Act of 2012) Law text · (b), (D)
• Pub. L. 112–240, §315(a)(2)(A), substituted "2010, 2011, 2012, or 2013, and" for "2010 or 2011,". (American Taxpayer Relief Act of 2012) Law text · (b)
• Pub. L. 112–240, §315(a)(2)(B)–(D), redesignated subpar. (D) as (C), substituted "2013" for "2012", and struck out former subpar. (C) which read as follows: "$500,000 in the case of taxable years beginning in 2012, and". (American Taxpayer Relief Act of 2012) Law text · (b), (D)
• Pub. L. 112–240, §315(a)(3), struck out par. (6) which related to inflation adjustment. (American Taxpayer Relief Act of 2012) Law text · (b)
• Pub. L. 112–240, §315(c), substituted "2014" for "2013". (American Taxpayer Relief Act of 2012) Law text · (c)
• Pub. L. 112–240, §315(b), substituted "2014" for "2013". (American Taxpayer Relief Act of 2012) Law text · (d)
• Pub. L. 112–240, §315(d)(1), substituted "2010, 2011, 2012, or 2013" for "2010 or 2011" in introductory provisions. (American Taxpayer Relief Act of 2012) Law text · (f)
• Pub. L. 112–240, §315(d)(2)(A), substituted "2013" for "2011". (American Taxpayer Relief Act of 2012) Law text · (f), (B)
• Pub. L. 112–240, §315(d)(2)(B), substituted "2010, 2011 and 2012" for "2010" in heading and inserted at end "For the last taxable year beginning in 2013, the amount determined under subsection (b)(3)(A) for such taxable year shall be determined without regard to this paragraph." (American Taxpayer Relief Act of 2012) Law text · (f)
• Pub. L. 112–240, §315(d)(2)(A), substituted "2013" for "2011" in two places. (American Taxpayer Relief Act of 2012) Law text · (f)

2010

• Pub. L. 111–240, §2021(a)(1), substituted "shall not exceed—" for "shall not exceed $25,000 ($250,000 in the case of taxable years beginning after 2007 and before 2011)." and added subpars. (A) to (C). (Small Business Jobs Act of 2010) Law text · (b)
• Pub. L. 111–147, §201(a)(1), substituted "($250,000 in the case of taxable years beginning after 2007 and before 2011)" for "($125,000 in the case of taxable years beginning after 2006 and before 2011)". (Hiring Incentives to Restore Employment Act) Law text · (b)
• Pub. L. 111–312, §402(a), added subpars. (C) and (D) and struck out former subpar. (C), which read as follows: "$25,000 in the case of taxable years beginning after 2011." (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (b), (D)
• Pub. L. 111–240, §2021(a)(2), substituted "exceeds—" for "exceeds $200,000 ($800,000 in the case of taxable years beginning after 2007 and before 2011)." and added subpars. (A) to (C). (Small Business Jobs Act of 2010) Law text · (b)
• Pub. L. 111–147, §201(a)(2), substituted "($800,000 in the case of taxable years beginning after 2007 and before 2011)" for "($500,000 in the case of taxable years beginning after 2006 and before 2011)". (Hiring Incentives to Restore Employment Act) Law text · (b)
• Pub. L. 111–312, §402(b), added subpars. (C) and (D) and struck out former subpar. (C), which read as follows: "$200,000 in the case of taxable years beginning after 2011." (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (b), (D)
• Pub. L. 111–147, §201(a)(3), (4), redesignated par. (6) as (5) and struck out former par. (5) which related to inflation adjustments. (Hiring Incentives to Restore Employment Act) Law text · (b)
• Pub. L. 111–312, §402(c), added par. (6). (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (b)
• Pub. L. 111–147, §201(a)(4), redesignated par. (6) as (5). (Hiring Incentives to Restore Employment Act) Law text · (b)
• Pub. L. 111–147, §201(a)(3), struck out par. (7) which related to increase in limitations for 2008 and 2009. (Hiring Incentives to Restore Employment Act) Law text · (b)
• Pub. L. 111–312, §402(e), substituted "2013" for "2012". (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (c)
• Pub. L. 111–240, §2021(c), substituted "2012" for "2011". (Small Business Jobs Act of 2010) Law text · (c)
• Pub. L. 111–312, §402(d), substituted "2013" for "2012". (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (d)
• Pub. L. 111–240, §2021(d), substituted "2012" for "2011". (Small Business Jobs Act of 2010) Law text · (d)
• Pub. L. 111–240, §2021(b), added subsec. (f). (Small Business Jobs Act of 2010) Law text · (f)
• Pub. L. 111–312, §737(b)(3)(A), struck out "(without regard to the dates specified in subparagraph (A)(i) thereof)" after "section 168(e)(7)". (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (f)
• Pub. L. 111–312, §737(b)(3)(B), struck out "(without regard to subparagraph (E) thereof)" after "section 168(e)(8)". (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) Law text · (f)

2009

• Pub. L. 111–5 substituted "2008, and 2009" for "2008" in heading and "2008, or 2009" for "2008" in introductory provisions. (American Recovery and Reinvestment Act of 2009) Law text · (b)

2008

• Pub. L. 110–185 added par. (7). (Economic Stimulus Act of 2008) Law text · (b)
• Pub. L. 110–343 added subsec. (e). (Emergency Economic Stabilization Act of 2008) Law text · (e)

2007

• Pub. L. 110–28, §8212(a), (b)(1), substituted "$125,000 in the case of taxable years beginning after 2006" for "$100,000 in the case of taxable years beginning after 2002" and "2011" for "2010". (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (b)
• Pub. L. 110–28, §8212(a), (b)(2), substituted "$500,000 in the case of taxable years beginning after 2006" for "$400,000 in the case of taxable years beginning after 2002" and "2011" for "2010". (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (b)
• Pub. L. 110–28, §8212(a), (c)(1), (2), in introductory provisions, substituted "2007" for "2003", "2011" for "2010", and "$125,000 and $500,000" for "$100,000 and $400,000". (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (b)
• Pub. L. 110–28, §8212(c)(3), substituted "2006" for "2002". (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (b)
• Pub. L. 110–28, §8212(a), substituted "2011" for "2010". (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (c), (d)

2006

• Pub. L. 109–222 substituted "2010" for "2008". (Tax Increase Prevention and Reconciliation Act of 2005) Law text · (b), (2), (5), (c), (d)

2004

• Pub. L. 108–357, §201, substituted "2008" for "2006". (American Jobs Creation Act of 2004) Law text · (b), (2), (5)
• Pub. L. 108–357, §910(a), added par. (6). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §201, substituted "2008" for "2006". (American Jobs Creation Act of 2004) Law text · (c), (d)

2003

• Pub. L. 108–27, §202(a), reenacted heading without change and amended text generally. Prior to amendment, par. (1) contained a table specifying the maximum amounts for taxable years 1997 to 2003 and thereafter which could be taken into account as the aggregate costs under subsec. (a… (Jobs and Growth Tax Relief Reconciliation Act of 2003) Law text · (b)
• Pub. L. 108–27, §202(b), inserted "($400,000 in the case of taxable years beginning after 2002 and before 2006)" after "$200,000". (Jobs and Growth Tax Relief Reconciliation Act of 2003) Law text · (b)
• Pub. L. 108–27, §202(d), added par. (5). (Jobs and Growth Tax Relief Reconciliation Act of 2003) Law text · (b)
• Pub. L. 108–27, §202(e), inserted at end "Any such election or specification with respect to any taxable year beginning after 2002 and before 2006 may be revoked by the taxpayer with respect to any property, and such revocation, once made, shall be irrevocable." (Jobs and Growth Tax Relief Reconciliation Act of 2003) Law text · (c)
• Pub. L. 108–27, §202(c), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "For purposes of this section, the term 'section 179 property' means any tangible property (to which section 168 applies) which is section 1245 property (a… (Jobs and Growth Tax Relief Reconciliation Act of 2003) Law text · (d)

1996

• Pub. L. 104–188, §1111(a), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "The aggregate cost which may be taken into account under subsection (a) for any taxable year shall not exceed $17,500." (Small Business Job Protection Act of 1996) Law text · (b)
• Pub. L. 104–188, §1702(h)(10), struck out "in" before "a trade or business". (Small Business Job Protection Act of 1996) Law text · (d)
• Pub. L. 104–188, §1702(h)(19), inserted at end "Such term shall not include any property described in section 50(b) and shall not include air conditioning or heating units." (Small Business Job Protection Act of 1996) Law text · (d)

1993

• Pub. L. 103–66 substituted "$17,500" for "$10,000". · (b)

1990

• Pub. L. 101–508, §11813(b)(11)(A), substituted "section 1245 property (as defined in section 1245(a)(3))" for "section 38 property". · (d)
• Pub. L. 101–508, §11813(b)(11)(B), amended par. (5) generally. Prior to amendment, par. (5) read as follows: "This section shall not apply to any section 179 property purchased by any person described in section 46(e)(3) unless the credit under section 38 is allowable with respect t… · (d)

1988

• Pub. L. 100–647, §1002(b)(1), amended par. (3) generally. Prior to amendment, par. (3) read as follows: · (b)
• Pub. L. 100–647, §1002(a)(19), substituted "tangible property (to which section 168 applies)" for "recovery property". · (d)

1986

• Pub. L. 99–514, §202(a), in amending subsec. (b) generally, substituted "Limitations" for "Dollar limitation" in heading, in par. (1) substituted as heading "Dollar limitation" for "In general" and in text "shall not exceed $10,000" for "shall not exceed the following applicable amount… · (b)
• Pub. L. 99–514, §202(b), inserted "in the active conduct of". · (d)
• Pub. L. 99–514, §201(d)(3), substituted "Treatment of" for "Dollar limitation in case of" in heading and amended text generally. Prior to amendment, text read as follows: "In the case of a partnership, the dollar limitation contained in subsection (b)(1) shall apply with respect to … · (d)
• Pub. L. 99–514, §202(c), struck out "before the close of the second taxable year following the taxable year in which it is placed in service by the taxpayer" after "at any time". · (d)

1984

• Pub. L. 98–369 amended table by dropping items setting applicable amounts of $0 for 1981 and $5,000 for 1982, substituting an applicable amount of $5,000 for 1983, 1984, 1985, 1986, and 1987 for former table items which had set applicable amounts of $5,000 for 1983, $7,500 for 1984,… · (b)

1983

• Pub. L. 97–448 added par. (10). · (d)

1982

• Pub. L. 97–354 substituted "partnerships and S corporations" for "partnerships" in heading, and inserted "A similar rule shall apply in the case of an S corporation and its shareholders." · (d)

1981

• Pub. L. 97–34 amended section generally, changing its content from provisions that formerly made available an additional first-year depreciation allowance for small businesses to provisions allowing a taxpayer to elect to treat the cost of section 179 property as an expense which is not chargeable …

1976

• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (c), (2), (d)
• Pub. L. 94–455, §213(a), added par. (8) and redesignated former par. (8) as par. (9). · (d), (9)
• Pub. L. 94–455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary". · (e)

1969

• Pub. L. 91–172 substituted reference to component members of a controlled group for reference to members of an affiliated group in pars. (2)(B) and (b), and substituted definition of controlled group for definition of affiliated group in par. (7). · (d)

1962

• Pub. L. 87–834, §13(c)(2)(A), substituted "section 167(h)" for "section 167(g)". · (d)
• Pub. L. 87–834, §13(c)(2)(B), substituted "section 167(g)" for "section 167(f)". · (d)