Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
N
nousti
August 30, 2023
Question

Section 179

  • August 30, 2023
  • 2 replies
  • 0 views

I have passive income from a K1 in one state and live in another. Can I take sec 179 deduction in both states?

2 replies

M
Mike9241
August 30, 2023

if the property qualifies for 179 you can take it for federal purposes. states have their own laws regarding 179. some allow it. some don't some limit it. we need to know the states.

 

Laura_CPA
Laura_CPA
August 30, 2023

Hi Nousti, 

 

Usually when you receive a K-1, there's Federal K-1 and a State K-1 (this one should specify the State in which you may be to take the Section 179). 

 

Hope this helps, 
Laura 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsCookie settingsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification