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Business & farm
No ... a 179 deduction cannot put you into a loss or increase your loss on the Sch C ... if you do choose to take the 179 deduction the unallowed portion is carried to the next tax year and used if you have a profit that year. If your income is usually that low consider using the standard mileage rate option instead of the actual vehicle expenses.
‎June 3, 2019
11:45 AM