elect out of sec 179
Lacerte : 2011I want to stop an asset from using sec 179 on an s corp return. how do I do this? it seems only to want to take it. I have a loss and would rather regular depreciaiton than a suspended 179.
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02/11/12 12:06pm PST
2 Replies
Jay in Georgia
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02/11/12 12:25pm PST
Section 179 is an elect "in". Bonus 100% depreciation is an elect "out". Is that your question?
IF so, below the grid is a box to overide the bonus depreciation. Remember that, unlike Sec 179, bonus depreciation is by class, not by individual asset.
02/11/12 2:31pm PST
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And make your election not to claim bonus depreciation in Screen 38
