My wife has two sources of income. First she makes wages and pays a lot of taxes. Second, she formed an LLC in 2019. The capital installed in that business was significant. I thought with the 179 depreciation - you can pass through a loss higher than the income of just the LLC. The software is limiting the amount of depreciation allowed to just the LLC net income. Since she adds her LLC K1 to her the income from her separate job, Shouldn't we be able to pass through all of the "loss" on the LLC in year 1? The income does not cover all the depreciation of the installed capital. Hope this helps.
