Yes. Any Section 179 deduction limited by the taxable income is carried forward indefinitely to succeeding tax years [section 179(b)(3)]. The deduction is claimed as the taxpayer generates sufficient trade or business income. However, the allowable Section 179 deduction may not exceed the annual dollar limitation for any give tax year [section 179(b)(1)].
Does unused Section 179 Deprecation carry forward for qualified property if it is greater than the taxpayer's trade or business income?
Modified on: Thu, 23 Feb, 2017 at 8:07 AM
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