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Business & farm
Based on your facts:
- Keep in mind you may have a business income limitation if you take Section 179.
- You could also take bonus depreciation
- Best to think longer term when making the decision for bonus, Section 179 or regular depreciation
- I would just enter the asset placed in service date as 1/1/2022 for simplification
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎December 16, 2022
1:56 PM