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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4622
Experience:  35 years tax experience, including four years at a Big 4 firm.
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Customer Question

Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year ago.

Hi. I'm PDtax. What is your question?

Customer: replied 1 year ago.
I entered into partnership with new startup lab
Started into
In sep
Have billed for lab tests
Equipment purchased worth 600k
Can I take 179
My partner does not need itT
Customer: replied 1 year ago.
On my tax return for this year
Expert:  PDtax replied 1 year ago.

You can only take a special allocation like that if your partnership agreement allows it. You might have to amend your partnership agreement, but yes you can.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.