You'll need to sign in or create an account to connect with an expert.
There are two issues which might be affecting the section 179 deduction on your tax return. Both are discussed in this IRS publication.
Page 4 Line 5
If you are married filing separately, you and your spouse must allocate the dollar limitation for the tax year.
Page 4 Line 11
The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year. You are considered to actively conduct a trade or business only if you meaningfully participate in its management or operations. A mere passive investor is not considered to actively conduct a trade or business.
@ajmd2002mark wrote:
I use 50% of the time for my eBay selling
You are not allowed to use Section 179 for an asset that is only used 50% for business.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ajmd2002mark
New Member
ccthealias
Level 2
elodiegoodman1
Level 2
pacman2
Level 1
arazi13
Level 2