Question 29 Which of the following is true about Section 179 expensing? In general, a taxpayer should select shorter-lived property for Section 179 expensing. None of the choices are true. The allowable Section 179 deduction amount phases out based upon a taxpayer's taxable income. The Section 179 deduction can create or extend a business's net operating loss. Property expensed under Section 179 is excluded from the test to determine whether the mid-quarter convention must be used