I'm a musician and in 2019 I bought a couple of new instruments. My plan was to take them as Section 179 expenses, but this will result in the business having a loss. Answers to other questions about 179 say that section 179 isn't allowed to give a business a loss and it has to be carried over. For example - Sort of. It depends. Yes, you can claim Section 179. Ho...
My question: Does TurboTax automatically recognize that I can't take the section 179 deduction? I've finished my schedule C with the 179 deductions. It shows a loss, I'm not getting an error message, and TurboTax seems happy.
