Discussion:Sec. 179 & Rental Equipment
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| Revision as of 20:10, 25 October 2007 Aev1229 (Talk | contribs) (that is true as) ← Previous diff |
Revision as of 20:24, 25 October 2007 Mtmckeecpa (Talk | contribs) (Aev, 179 is ava) Next diff → |
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| {{ForumReplyPost|UserID=Aev1229|Date=25 October 2007|Text=that is true as long as renting property is not your trade or business. But it is the business for this S-corp. So, is it still not deductible and if so, under what part of sec. 179?}} | {{ForumReplyPost|UserID=Aev1229|Date=25 October 2007|Text=that is true as long as renting property is not your trade or business. But it is the business for this S-corp. So, is it still not deductible and if so, under what part of sec. 179?}} | ||
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| + | {{ForumReplyPost|UserID=Mtmckeecpa|Date=25 October 2007|Text=Aev, | ||
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| + | 179 is available, plus I would look at Asset class 57 (5 years) to depreciate any equipment not taken under 179.}} | ||
Revision as of 20:24, 25 October 2007
Discussion Forum Index --> Basic Tax Questions --> Sec. 179 & Rental Equipment
Discussion Forum Index --> Tax Questions --> Sec. 179 & Rental Equipment
| 25 October 2007 | |
| I have an S-corp that rents equipment out to other businesses. Can they sec. 179 the pruchases of new rental equipment? | |
| 25 October 2007 | |
| Incoming production assets does not qualify for Section 179 Depreciation. | |
| 25 October 2007 | |
| that is true as long as renting property is not your trade or business. But it is the business for this S-corp. So, is it still not deductible and if so, under what part of sec. 179? | |
Mtmckeecpa (talk|edits) said: | 25 October 2007 |
| Aev,
179 is available, plus I would look at Asset class 57 (5 years) to depreciate any equipment not taken under 179. | |
