PatriciaV
Expert Alumni

Deductions & credits

Because your business reported a loss, any Section 179 deduction you claim will be carried over until you have income to match against that deduction. Enter the limit of $30,500 as explained by Mike9241 and see if that passes the form review.

 

Special "Bonus" Depreciation (60% of the balance after Section 179 for tax year 2024) will increase your passive loss for this activity, which will also be carried over until you have income in a future year.

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