Section 179 disallowed

3 replies
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This makes no sense to me. I have rental property that qualifies as a business and I select that option in TurboTax, but it disallows any Section 179 deductions. I have Mobile Home park which is my only source of income. I have 30 spaces and 10 mobile homes that I rent. I file Sch E.

I can select the Special Bonus Depreciation with no problem, but I just don't understand why TurboTax doesn't recognize me as a business even though I make the business selection within the program.

Anonymous

when you take section 179, if possible look at form 4562. the one that combines all business activities. it may be that you have a net business loss in which case section 179 is not allowed. bonus does not have the same limitation.

this is a guess, we can not see your return

Stupidasur3Author

Level 4

Nope. I've never operated at a loss and all properties are showing income. I just elected the Special Depreciation to get around it, but I've had this happen in the past, and thought I would ask the question. Thanks