We listed each deduction definition below. If you need more help with reporting deductions, contact us.Section 179 allows eligible businesses to deduct the full purchase price of qualifying equipment in the year it was put into service. This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation. Section 179 helps your business purchase more equipment and boost its operations without taking money away from the tax revenue. So, the sale of corporate stock and other investment assets, if appreciated, will generate a capital gain under Washington law.