Section 179 Expense Limitations?

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  • zeros
    Senior Member
    • Dec 2006
    • 921
    #1

    Section 179 Expense Limitations?

    Can a person expense through the Section 179 more than he has profit for as long as he has W-2 earnings?
    Tags: None
    • solomon
      Senior Member
      • Aug 2006
      • 1012
      #2
      Yes - W-2 earnings count.

        Comment

        • BOB W
          Senior Member
          • Jun 2005
          • 4061
          #3
          Does the W-2 have to be the business owner's W-2? Or can it be any W-2 on a joint return?
          This post is for discussion purposes only and should be verified with other sources before actual use.

          Many times I post additional info on the post, Click on "message board" for updated content.

            Comment

            • Gene V
              Senior Member
              • Jun 2005
              • 1057
              #4
              Originally posted by BOB W
              Does the W-2 have to be the business owner's W-2? Or can it be any W-2 on a joint return?
              Yes, it can be combine W-2 on joint return.
              Part of instruction for line 11 Form 4562

              If you are married filing a joint
              return, combine the total taxable incomes
              for you and your spouse.

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