[Anonymous]

Hey all,

Does anyone know the 2012 section 179 expense amount and threshold? I am using the 2011 materials which show $500k and $2million, but I’m pretty sure these changed in the 2012 edition. Thanks for the help!!!

[Anonymous]

From my quickfinder binder… I think your exam is based off the 2011 tax year

Section 179 deduction—limit

2012 tax year: $139,000

2011 tax year: $ 500,000 <- your exam?

2010 tax tear: $500,000

Section 179 deduction—qualifying property phase-out threshold

2012 tax year: $560,000

2011 tax year: 2,000,000 <- your exam?

2010 tax tear: 2,000,000

[Texas27]

For 2012, Sec. 179 expense maximum is $125,000. The phase-out starts at $500,000 in qualifying asset purchases and is reduced for every $1 over that amount. There is no Sec. 179 expense for anything over $625,000.

BEC - Feb 2012: 80
AUD - Feb 2012: 84
FAR - Apr 2012: 78
REG - May 2012: 90

Thanks Becker!

[Anonymous]

Thanks guys!

Texas27- Did you pull those numbers from becker or any other cpa review by any chance? The person above you is throwing out different numbers but I think I saw your numbers.

[Texas27]

ChrisCPA- Yea, I'm not really sure where cpham4 got their 2012 numbers for Sec. 179, the ones I posted are the correct numbers. They are in Becker and I have doubled checked from other sources as well.

BEC - Feb 2012: 80
AUD - Feb 2012: 84
FAR - Apr 2012: 78
REG - May 2012: 90

Thanks Becker!

[Anonymous]

Thanks a lot. I really appreciate the help.

[Anonymous]

$125,000 is technically correct — it’s $125,000 … as adjusted for inflation back to 2006. For 2012, that inflation-adjusted amount is $139,000. See IRS Revenue Procedure 2011-52.

Which one is on your exam? 🙂

[preetujain]

Hi

I will be giving REG in Dec…….so what limits will apply for Sec 179- 2012 or 2011?

Please help ASAP.

Thanks in advance.

[Trisha]

2011. Good luck 🙂

REG 72, 86 and DONE!!!
BEC 80 🙂
FAR 72, 78 🙂
AUD 73, 76 🙂

[preetujain]

Thanks Trisha!!

[Author]

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