Section 179 is an immediate expense deduction business owners take for purchases of depreciable business equipment instead of capitalizing an asset. Enter the total amount of depreciation and the cost of certain property that the business elected to expense under section 179 from Form 4562.This item addresses how S corporations and partnerships that have a Sec. 179 recapture event should report the event to their owners. Sale or Disposition of Asset for Which Bonus Depreciation Was Claimed. 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 deduction dollar limits.