question for tax code section 179

We have a LLC partnership to own the small apt. complex we have. We did a lot of improvements last year, such as installing wood floor, fence, parking lot etc. While doing the tax return, we try to use the section 179 for direct deduction (deduct many of the improvements in one year, instead of 5-year, 7-year, or 15-year depreciation). However we found publication 527 chapter 2 (Depreciation of rental property)---see the link below:

 http://www.irs.gov/publications/p527/ch02.html

 It has this paragraph:

 Section 179 deduction.   The section 179 deduction is a means of recovering part or all of the cost of certain qualifying property in the year you place the property in service. This deduction is not allowed for property used in connection with residential rental property.

Hi, brother JY101. I noticed you used section 179 deduction this year. Is this for rental properties, or for other of your business? Is there anything we do not know?

Of course we want to use section 179, so that we can deduct many of the cost in one year, instead of 5, 7, or 15-year depreciation. But it seems we cannot do that.

 

Any comments or suggestions?

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• 回复：question for tax code section 179 -xhjaer19721- ♀ (120 bytes) () 03/20/2012 postreply 17:54:51