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G
Gemator
Level 3
May 17, 2020
Question

Sec. 179 -100 depreciation for the first year

  • May 17, 2020
  • 2 replies
  • 25 views

Can c corp and owners of c corp claim Section 179 of TCJA for 100 % depreciation?

This topic has been closed for replies.

2 replies

abctax55
abctax55
Level 15
May 17, 2020

§ 179 & 100% bonus depreciation are separate 'choices'; each have various long-term ramifications. 

HumanKind... Be Both
    G
    GematorAuthor
    Level 3
    May 18, 2020

    Thanks for your reply.

    Can the owner of c corp. take advantage of 100% bonus depreciation on qualified equipment used for business under Sec. 179 to lower his personal tax?

    IRonMaN
    IRonMaN
    Level 15
    May 18, 2020

    No

    Slava Ukraini!
      IRonMaN
      IRonMaN
      Level 15
      May 17, 2020

      I'm just a wee bit curious on how the C corp and the owners of the C corp are both going to claim it.  But it is Sunday and I don't do my best thinking until at least Thursday.

      Slava Ukraini!
        abctax55
        abctax55
        Level 15
        May 17, 2020

        I'm also a wee bit curious about the phrasing of "owners of the C corp" too....  it's not like income/expense/deductions flow thru to those "owners".

        HumanKind... Be Both
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