In the year the property is placed into service, farmers can choose to recover some or all the cost of certain property up to a defined limit. This election is known as a section 179 expense deduction. The section 179 expense deduction is taken instead of depreciating the asset over its useful life.
Following is an overview of how much you can deduct for property under section 179 expense. Section 179 Expense Deduction, Part 1 covered what property qualifies for this expense deduction.