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ptheland: (in a moment of pompous authority)
In an S corp, the sec 179 deduction is passed through to the shareholders. It is at the shareholder level where the net income limitation is applied

hghcpa: (carefully bringing him back to earth)
IIRC, the 179 limitation as it relates to a net loss is applied at the entity level.

Darn memory. I've got to get that fixed. It applies at both the entity AND the shareholder level. Thanks for making me look it up.

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