This item addresses how S corporations and partnerships that have a Sec. 179 recapture event should report the event to their owners.Massachusetts allows the Section 179 deduction but disallows the bonus depreciation deduction. Section 179 is an immediate expense deduction business owners take for purchases of depreciable business equipment instead of capitalizing an asset. A Section 179 expense is a business asset that can be written off for tax purposes right away rather than being depreciated over time. Section 179 is the current IRS tax code that allows you to buy qualifying Ford vehicles and deduct up to the full purchase price (including any amount financed) Section 179 allows business taxpayers to deduct the cost of certain property as an expense when the property is first placed in service. Section 179 property. Sale or exchange of depreciable property.