LLC question regaring s179 Depreciation? I got a K-1 from my LLC's partnership and it appears that my cpa did not expense the computer that the partnership bought in 2007.
He said that the partnership cannot deduct this and it has to be reported on my K-1? Is he correct?
I thought that this is a legitamate expense and it should be deducted on the LLC's partnership tax return.
I am hopelessly confused! Tks again! |