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Section 179
Question: On a Section 179 form I have just over $10,000 carried over from last year on my farm and it says I need to reduce it to the allowed amount of $1,046. I only have $3,000 in expenses this year so I have no idea where to adjust the amounts to add up to $1,046. This carry over appears to have been generated back in 2016 when I listed a pole barn and the purchase of a side by side for the farm. Any suggestions on how to make these adjustments?
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March 20, 2024
9:35 AM