The total cost of section 179 property that you can deduct for a tax year generally cannot be more than the maximum section 179 dollar limit. However, if you place qualified zone property in service during the year this maximum dollar limit is increased by the smaller of the following amounts (Section 1397A(a)(1)):
- $35,000, or
- The cost of section 179 property that is qualified zone property you placed in service during the year. See Publication 946, How to Depreciate Property, page 5, for Maximum Dollar Limits for years beginning in 1997.
Note: Empowerment Zone tax benefits were generally not extended beyond 12/31/2017.