Yes, you can leverage other income against the 179 deduction taken for the year as long as your Adjusted Gross Income (AGI) does not reduce to zero. This is a little known caveat in the tax law that makes no sense because there is no relationship between Schedule C income and other income but no one has ever said the tax code is completely logical.
To give you an additional FYI, if your AGI was $20,000 for the year before you put in 179 deduction, you would only be able to claim $20,000 of the deduction and then depreciate the remainder over a five-year period.
@Tomnician
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
