1. complete form TC-804B, Business Tax Payment Agree- ment Request (tax.utah. When you dispose of an asset with a section 179 expense deduction, the disposition isn't included on Form 4684, 4797, 6252, or 8824.Section 179 refers to a section of the United States Internal Revenue Code that allows businesses to deduct the cost of certain types of property as an expense. This item addresses how S corporations and partnerships that have a Sec. 179 recapture event should report the event to their owners. Commonly referred to as the Sec. You can take Section 179 in the year you place an asset in service, whether it's new or used. The asset must simply be new to you. Learn about the 2021 Section 179 deduction, and use our free calculator to determine your potential tax savings on new construction software or equipment.