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Q: Income tax: Section 179 ( No Answer,   0 Comments )
Question  
Subject: Income tax: Section 179
Category: Business and Money > Accounting
Asked by: corky7-ga
List Price: $10.00
Posted: 24 May 2003 18:51 PDT
Expires: 05 Jun 2003 12:47 PDT
Question ID: 208264
Can the IRC section 179 deduction be taken for an automobile used 100%
in taxpayer's rental activities. Taxpayer's sole income is from
several rental properties, and thus taxpayer qualifies as a real
estate professional.

Note: This question requires a cite that I can reference.

Request for Question Clarification by juggler-ga on 24 May 2003 19:42 PDT
Is the rental property residential?

Clarification of Question by corky7-ga on 26 May 2003 06:27 PDT
Several properties are residential, and 1 is a commercial building.
One other is an apartment complex,which according to my software is
considered residential if it is a dwelling unit.
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