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Deductions & credits
When you split the depreciation, if it is under $2500, the system allows you to take a section 179 expense which means you can expense it in the current year or the following year. Is this allowable to do with multiple assets, say 4 purchases over $2500 ( 2900, 4100, 4100, 4800) split by 3 ( in my case there are three owners)? Seems like it would be a red flag!
‎January 29, 2021
9:07 AM