I am curious to know if you can use section 179 deprecation on a portion of an asset and then bonus deprecation the rest.
For example, (S-Corp) if an asset is $100,000, can I 179 $70,000 of it, and then bonus $30,000 of it?
The problem with bonusing the whole $100,000 is that I believe that it all goes to the person's 1040 which would bring their AGI to 0. If I bring the AGI to $0.00, then I do not get to take advantage of the person's standard deduction, so they are losing out on $25,100
Another note to add, I know if there are more than one class of equipment, I can elect to bonus one class and then elect out of bonus for the other class, and 179 depreciation that. There is musical equipment which I believe has a 5 year class while the furniture is a 7 year class, so I believe I could allocate 168 and 179 in this situation. Please correct me if I am wrong.
Thank you.
