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Marvin,EA
Marvin,EA, Enrolled Agent
Category: Tax
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Experience:  Enrolled to Represent Taxpayers Before The IRS
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I want to buy a machine and use Section 179 to write-off the

Customer Question

I want to buy a machine and use Section 179 to write-off the full amount this year. The problem is, the company I am going to buy the machine from doesn't want to sell until 2009. They need to sell in 2009 for their tax. Is there a legal way for me to buy this in 2008 and they show they sold it in 2009? Maybe some kind of lease??
Submitted: 6 years ago.
Category: Tax
Expert:  Marvin,EA replied 6 years ago.
Hello and thank you for using Just Answer. Depreciation begins when property is "ready and available" for use in a trade or business or income-producing activity, regardless of when the asset was purchase. The date the machine is placed in service is used to determine when the tax year depreciation begins.
Customer: replied 6 years ago.
Thanks for the quick answer. I understand that, but I need a (Legal) backdoor.
Expert:  Marvin,EA replied 6 years ago.
Can the company give you the machine in December 2008 and bill you in 2009?
Customer: replied 6 years ago.
If he gives it to me in 2008, wouldn't that just be zero dollar amount for depreciation? If was on the floor "up and running" the other company would have to file it in 2008 also. My acountant say's there's no way to do this. I really need the write-off this year. The other company say's 2009 is all they can do.
Expert:  Marvin,EA replied 6 years ago.

I agree with your accountant. You can only deduct the machine when it is ready and available for use in your business. I am sorry.

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Marvin,EA
Marvin,EA
Tax Professional
1663 Satisfied Customers
Enrolled to Represent Taxpayers Before The IRS