dmytrolakota
Level 1
12-06-2019
08:18 PM
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If a partnership, grossing approximately 485k. The final net is 20k for the tax year, 10k for each partner. However, there was new machinery purchased in 2018 for 80k. If they elect to take the 100% depreciation...is the full amount taken? leaving the business with a -60k loss for the tax year? Leaving each partner with -30k?
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