Business & farm

Thanks for the thoughtful reply.

 

Where all previous assets were (by using the 179) fully depreciated in the year of purchase, there does not appear any depreciable assets left, except a 10,000 piece of equipment we bought this year (TT won't let me take the 179 on that for the short year) and the cash in the account.

 

Can I force TT to allow the partnership to apply the 179 to our $10,000 piece of equipment, and thereby avoid the Section 751 altogether?

 

If so, do we both still need to complete a 8594?

 

Thanks for your patience and time