Can a section 179 equipment purchase that generates a loss for the sole proprietor be rolled over into the owner's W2 wages reducing their overall AGI?

For example my sole proprietorship has a gain of $10,000 but also have w2 income from another full time job of $100,000.  If I buy a new diesel 2500 costing $70,000.  Will that reduce my taxable income from my normal W2 job?