Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Can sole shareholder of two S Corps use Section 179 from one to offset income of the other?
Can sole shareholder of two S Corps use Section 179 from one to offset income of the other?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Pablo
Level 3
04-12-2022
11:12 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Labels
2 Comments 2
dkh
Level 15
04-12-2022
11:23 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes it would all flow the personal return. But.....Is there enough income in the SCorp that is electing Sec179 to allow
Pablo
Level 3
04-12-2022
12:19 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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,
