Sect 179 deductions w/S-Corp already showing loss

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  • Davc
    replied
    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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    • BHoffman
      replied
      I'm pretty sure the available Sec 179 is determined by what shows up on client's 1040.

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      • AZ-Tax
        started a topic Sect 179 deductions w/S-Corp already showing loss

        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?
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