When looking at form 4797, it put the sale price of the piece of equipment as a gain on sell of asset. Eligible Section 179 deductions include physical items that are purchased as business assets, like machinery, software, and vehicles.With asset depreciation your business saves on taxes if you own property, equipment, vehicles, or fixtures that can be claimed with Section 179 deductions. This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation. How to report the recapture of Sec. 179 expense for passthrough entities at both the entity and owner levels. A Section 179 expense is a business asset that can be written off for tax purposes right away rather than being depreciated over time. Under Section 179, you can claim a deduction in the current year.