Section179.Org is a free resource answering Section 179 questions, with tools and information on how businesses can benefit from the Section 179 Tax Deduction. Section 179 of the IRS tax code helps business owners lower their upfront expenses.To qualify for the section 179 deduction, your property must have been acquired for use in your trade or business. When looking at form 4797, it put the sale price of the piece of equipment as a gain on sell of asset. Section 179 of the IRS tax code details both what and how much businesses can deduct from their taxes from qualifying purchases. After 2009, IRC Section 179, effective Jan.