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Pablo
Level 5
April 12, 2022
Question

Can sole shareholder of two S Corps use Section 179 from one to offset income of the other?

  • April 12, 2022
  • 2 replies
  • 17 views
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2 replies

dkh
dkh
Level 15
April 12, 2022

Yes it would all flow the personal return. But.....Is there enough income in the SCorp that is electing Sec179 to allow 

PabloAuthor
Level 5
April 12, 2022

Thank you.

The S Corp with all the pertinent 179 assets ($40k) has income ($18k) to absorb part of the Section 179.  Excess = $22k. Plan is to use $15k of excess to offset 2nd S Corp's $15k income.

rds,

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