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- 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?
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Pablo
Level 3
04-12-2022
11:12 AM
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2 Comments 2
dkh
Level 15
04-12-2022
11:23 AM
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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
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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,
