turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nousti
New Member

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

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.

 

Laura_CPA
Employee Tax Expert

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 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies