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Section 179 Expensing Addition

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Section 179 expensing lets businesses deduct the entire cost of certain equipment on their federal tax return in the year of purchase (instead of deducting depreciation over multiple years). Minnesota limits this expensing on your state return to the amount allowable in 2003, when the federal limits first increased. You may need to add back part of your federal deductions for section 179 expensing.

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