In general, a taxpayer should select longer-lived property for the §179 immediate expensing election.

Question

Quizplus · Accepted Answer

This is because selecting longer-lived property for the §179 immediate expensing election will allow the taxpayer to benefit from the immediate expensing for a longer period of time, thereby reducing their taxable income and potentially their tax liability. Shorter-lived property may still be eligible for §179 expensing, but the benefit will only be available for a shorter period of time.

In General, a Taxpayer Should Select Longer-Lived Property for the §179