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Level 7

Section 179 Carryover problem

I have a section 179 carryover of $2000 from 2017. I cannot use that carryover in 2018 because of income limitation (no earned income). Is this carried over to 2018 and subsequent years if I can't use it?

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Level 20

Section 179 Carryover problem


@jwolosenko wrote:

I have a section 179 carryover of $2000 from 2017. I cannot use that carryover in 2018 because of income limitation (no earned income). Is this carried over to 2018 and subsequent years if I can't use it?


You can carry a disallowed Section 179 deduction for an unlimited number of years.

 

See https://www.law.cornell.edu/cfr/text/26/1.179-3

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Level 20

Section 179 Carryover problem


@jwolosenko wrote:

I have a section 179 carryover of $2000 from 2017. I cannot use that carryover in 2018 because of income limitation (no earned income). Is this carried over to 2018 and subsequent years if I can't use it?


You can carry a disallowed Section 179 deduction for an unlimited number of years.

 

See https://www.law.cornell.edu/cfr/text/26/1.179-3

Level 7

Section 179 Carryover problem

Thank you. Very helpful