Sec 179 Limit. Whatcha' Think?

[WhiteOleander]

Return has a Sch F. Running a loss. T/P wants to Sec 179 as much as he can. I read that Sec 1231 gain can be used as income for Sec 179 limit. T/P has about 300,000 on 4797. But, this is taxable portion from a 1031 exchange from form 8824.

I'm a little nervous. Would that be considered 1231 gain for the purpose of the Sec 179 limit?

I keep going back and forth on this.

Thanks

[Davc]

Not if he exchanged investment property.