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Level 1
Aug 30, 2023 10:09 PM UTC
Question

Section 179

I have passive income from a K1 in one state and live in another. Can I take sec 179 deduction in both states?

2 replies

Mike9241
Level 15
Level 15
Aug 30, 2023 10:14 PM UTC

if the property qualifies for 179 you can take it for federal purposes. states have their own laws regarding 179. some allow it. some don't some limit it. we need to know the states.

 

Mike9241
Laura_CPA
Alumni - Intuit
Aug 30, 2023 10:17 PM UTC

Hi Nousti, 

 

Usually when you receive a K-1, there's Federal K-1 and a State K-1 (this one should specify the State in which you may be to take the Section 179). 

 

Hope this helps, 
Laura 

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