Sect 179 deductions w/S-Corp already showing loss

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604
    #1

    Sect 179 deductions w/S-Corp already showing loss

    If an S-Corp is already showing a loss with current exps, Sect 179 deductions cannot add to this loss and need to be carried forward, correct?
    Tags: None
    • BHoffman
      Senior Member
      • Feb 2008
      • 1768
      #2
      I'm pretty sure the available Sec 179 is determined by what shows up on client's 1040.

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        • Davc
          Senior Member
          • Dec 2006
          • 1088
          #3
          Originally posted by BHoffman
          I'm pretty sure the available Sec 179 is determined by what shows up on client's 1040.
          Only after it's limited at the Corp or other pass thru entity level. However, remember that the income limitation is calculated prior to any shareholder wages at the Corp level. .

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