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Investors & landlords
The two properties must be entered separately. They were not placed in service the same year, so each has a different recovery beginning and ending period. Enter each asset with the date placed in service and the type of property. If this is real estate they must be entered separately for the same reason.
For property placed in service prior to the current year, and if Section 179 had not been elected in the first year, then it cannot be elected in any succeeding year. Only property placed in service in the current year, that is not real property can use Section 179, election for 2021.
@nanosuna1977
Please update here if you need further assistance.
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March 29, 2022
9:33 AM