### Question
How does ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS define section 179 property?


### Answer
Under *26 U.S.C. § 179*, **section 179 property** is defined as:

> any tangible property (to which section 168 applies) which is section 1245 property (as defined in section 1245(a)(3)) and which is acquired by purchase for use in the active conduct of a trade or business

#### Citation:
  - *26 U.S.C. § 179*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

