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Deductions & credits
It is not the price of the software that will limit the 179 deduction but the profit on the Sch C ... so you may wish to review all the ways ( 179 vs bonus depreciation vs regular depreciation) to see what is best for your situation. Once you have entered all the income and expenses in the program review the actual 1040 and Sch C to see how changing things will affect the bottom line. This is the only place in the return where you have the ability to legally manipulate the refund.
‎December 7, 2019
8:06 PM