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Section 179 limitation and K1
1065- Can an individual's K-1 Part III line 12 Section 179 deduction be greater than their individual Ordinary Business Income line 1? If not, should I go back into and reduce the 179 deduction to match line 1 or will that limitation be completed when the individual files their 1040?
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‎April 17, 2020
4:57 AM