How to add/change section 179 bonus

Steps to add, remove, or modify Section 179 bonus on assets in Sage Fixed Assets Depreciation.

Note: Section 179 expense is a critical value of depreciation. You need to enter it on an asset-by-asset basis.

In Sage Fixed Assets:

1. In the Asset Detail view: Enter a value for 179/bonus.
2. The Section/Bonus Detail[Book] window will open.
   1. Click to place a checkmark in the Qualified Section 179 Property box.
   2. If the asset is a Qualified Disaster Zone asset, select the Zone Type from the drop box.
   3. Ensure the Section 179 Amount is correct.
   4. If applicable: Select the correct Code for Section 179B, 179C, 179D, 179E, 179O or Other. Enter the correct amount applied to the code.
      Note: Any amount entered under the 179B, 179C, 179D, 179E, 179O or Other section won’t appear on the 4562 report.
   5. Ensure the Total Section 179/Bonus Amount is correct.
   6. Click OK.
3. If you've calculated any depreciation on the asset, there will be two prompts:
   1. Answer Yes.
   2. Select the Placed in Service date.
   3. Click OK.

Notes:

• The Section 179 bonus is a reduction of the depreciable basis on an asset. Choose Placed in Service date on the Critical Depreciation Change screen to allow the asset to recalculate correctly.
• To check if you've exceeded the Section 179 allocation limits, go to Depreciation, Audit Advisor.
• If the Asset was a transferred Asset, apply Section 179 or 168 Allowance changes to the parent asset. Delete the Transfer, make any adjustments, then transfer the asset again. If the transfer occurs in the asset’s first year, the system allocates Section 179 or 168 Allowance amounts. It allocates those amounts between the Parent and Child.