Let’s say that you buy equipment that you want to rent to your corporation. Can you, the individual, claim Section 179 expensing on the equipment?
As an individual taxpayer, you may not automatically claim a Section 179 deduction when you buy Section 179 property that you rent to another (third party or not).
Instead, you must qualify for the Section 179 deduction by meeting the following three requirements:
1.
The lease term, considering options to renew, must be less than 50 percent of the property’s class life.
2.
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