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Investors & landlords
In addition to what has been discussed, you mention a K-1 along with bonus depreciation and Section 179 in the same sentence.
Bonus depreciation and Section 179 are not the same and one has business income limitations in order to benefit currently.
As a result, this adds to the recommendation that you meet with a tax professional to sort through what you have so a complete and accurate tax return can be filed.
*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 17, 2021
1:56 PM
1,196 Views