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?

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Section 179

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.

Section 179

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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