TaxGuyBill
Level 15
12-06-2019
10:16 PM
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In other words, current law says it does not qualify for Section 179.
If and when Congress makes the technical correction, then it qualifies.
I'm not sure if the S-corporation is the same, but in the Individual returns in ProSeries, the Information Worksheet (where you enter the taxpayer's name, address, etc.) it has a check box to use the 15-year Recovery Period for Qualified Improvements (which should then allow Section 179). However, I would not recommend filing that way until the law is changed to reflect that.
If and when Congress makes the technical correction, then it qualifies.
I'm not sure if the S-corporation is the same, but in the Individual returns in ProSeries, the Information Worksheet (where you enter the taxpayer's name, address, etc.) it has a check box to use the 15-year Recovery Period for Qualified Improvements (which should then allow Section 179). However, I would not recommend filing that way until the law is changed to reflect that.
