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Deductions & credits
Section 179 has both a dollar limitation and a taxable income limitation.
See https://www.irs.gov/pub/irs-drop/rp-19-08.pdf
If you have no taxable income from an active trade or business for the taxable year (including earned income as an employee), then you cannot take advantage of the Section 179 deduction.
‎August 25, 2021
7:43 AM