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ramraor
Level 2
March 30, 2022
Solved

100% DEPRECIATION DEDUCTION UNDER 179 SEC.

  • March 30, 2022
  • 1 reply
  • 13 views

FIRST YEAR START UP COMPANY WITH ZERO INCOME IN THE FIRST YEAR - CAN HE TAKE 100% DEPRECIATION DEDUCTION UNDER 179 .... ON A MACHINARY BEING USED COST $ 500,000/-

 

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Best answer by sjrcpa

Assuming they have actually started business, if they take Section 179 it will be carried over to next year since there is no income.

They could take 100% bonus depreciation and create a loss.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
March 30, 2022

Assuming they have actually started business, if they take Section 179 it will be carried over to next year since there is no income.

They could take 100% bonus depreciation and create a loss.

The more I know the more I don’t know.
    R
    ramraorAuthor
    Level 2
    April 1, 2022

    THANKS FOR RESPONSE - WILL FOLLOW

    sjrcpa
    sjrcpa
    Level 15
    April 1, 2022

    You're welcome

    The more I know the more I don’t know.
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