I have passive income from a K1 in one state and live in another. Can I take sec 179 deduction in both states?
02454
2 Replies
Mike9241
Level 15
Aug 30, 2023 3:14:53 PM
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.
Laura_CPA
Employee Tax Expert
Aug 30, 2023 3:17:56 PM
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).