Solved
100% DEPRECIATION DEDUCTION UNDER 179 SEC.
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/-
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.
