QSSS & Section 179 Deduction

[wizbang30]

My Question....Can a QSSS and the S-Corp owning 100% of the QSSS EACH take the $250k section 179 deduction or is it limited at the shareholder level through the K-1?

Any assistance would be appreciated. Thanks

[les grans]

I'm pretty sure you asked two questions, and that the answers are:

Can a QSSS and the S-Corp owning 100% of the QSSS EACH take the $250k section 179 deduction...? No, they're considered only one entity for tax purposes.

Is it limited at the shareholder level through the K-1...? Yes, always, as I recall.

And also, there may be income limitations to deal with at both the corporation and the shareholder lever.