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Business & farm
Printer and old machine if on a lease, you are deducting the lease payments as expenses.
Look at 2017 and see if you were able to:
1) take all the depreciation allowed --If so, no 179 carry-forward
2) Passive losses--if you have a loss on 2017 that was used then you have no passive loss carryover.
3) same as #2
4) did you sell any business assets?
5) rare to have money you can't lose in a small business. If bank gives you a loan, then will take other assets including personal assets until loan is paid.
Look at 2017 and see if you were able to:
1) take all the depreciation allowed --If so, no 179 carry-forward
2) Passive losses--if you have a loss on 2017 that was used then you have no passive loss carryover.
3) same as #2
4) did you sell any business assets?
5) rare to have money you can't lose in a small business. If bank gives you a loan, then will take other assets including personal assets until loan is paid.
‎June 5, 2019
11:52 PM