How Do You Elect the Deduction?

Terms you may need to know (see Glossary):

Listed property Placed in service

Election. You elect to take the section 179 deduction by completing Part I of Form 4562.

Caution: If you elect the deduction for listed property (described in chapter 5), complete Part V of Form 4562 before completing Part I.

For property placed in service in 2025, file Form 4562 with either of the following.

• Your original 2025 tax return, whether or not you file it timely.

• An amended return for 2025 filed within the time prescribed by law. An election made on an amended return must specify the item of section 179 property to which the election applies and the part of the cost of each such item to be taken into account. The amended return must also include any resulting adjustments to taxable income.

Records you should keep. You must keep records that show the specific identification of each piece of qualifying section 179 property. These records must show how you acquired the property, the person you acquired it from, and when you placed it in service.

Election for qualified section 179 real property. You can elect to expense certain qualified real property that you placed in service as section 179 property for tax years beginning in 2025. For more information, see Election above. Also, see Revenue Procedure 2019-8 on page 347

Publication 946 (2025) Chapter 2 Electing the Section 179 Deduction 21

of Internal Revenue Bulletin 2019-3, available at IRS.gov/irb/2019-03_IRB#RP-2019-08 .

Revoking an election. An election (or any specification made in the election) to take a section 179 deduction in 2025 can be revoked without IRS approval by filing an amended return. The amended return must be filed within the time prescribed by law. The amended return must also include any resulting adjustments to taxable income. Once made, the revocation is irrevocable.