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Deductions & credits
@Carl wrote:.....if your taxable business income before the SEC179/SDA is already zero, then taking the SEC179/SDA won't change your tax liability for the current tax year being filed. It just gets carried forward to the next year.
An asset can be expensed after making a safe harbor deminimis election without regard to taxable income; it does not get carried forward to the next tax year.
‎April 15, 2022
1:03 PM