overriding the lives will prevent e-filing and as to 179 it's probably not allowed from IRS pub 946
Property Acquired by Purchase
To qualify for the section 179 deduction, your property must have been acquired by purchase. For example, property acquired by gift or inheritance does not qualify.
Property is not considered acquired by purchase in the following situations.
1. It is acquired by one component member of a control-led group from another component member of the same group.
2. Its basis is determined either:
a. In whole or in part by its adjusted basis in the hands of the person from whom it was acquired, or
b. Under the stepped-up basis rules for property ac-quired from a decedent.
3. It is acquired from a related person.
Related persons. Related persons are described under Related persons, earlier. However, to determine whether property qualifies for the section 179 deduction, treat as an individual's family only his or her spouse, ancestors, and lineal descendants and substitute "50%" for "10%" each place it appears
basis for used equipment is the lower of cost or Fair market value when placed into use provided it has not been previously depreciated. for example converting a sole proprietorship to a single-member LLC has no effect. you continue to depreciate as if the LLC was never created.
