DANRVAN Posted February 28, 2015 Report Share Posted February 28, 2015 (edited) I was scanning through the taxbookforum this morning when I saw something that looked off. Since I don't subscribe to the product, I am unable to post but I visit the site occasionally to see what I can learn. The topic was Sect 179 partnership trust. The question was what happens when a partnership takes section 179 and an estate is a partner. As I understood the answer, it was stated that the estate's portion of section 179 is simply lost unless the partnership agreement allows it to be reallocated to the other partners. Section 179 is not lost or reallocated. Instead, the estate takes normal depreciation under section 168 and a separate basis is maintained for the estates share of the asset per Treas Reg 1.179-1(f)(3). Edited February 28, 2015 by DANRVAN 1 Quote Link to comment Share on other sites More sharing options...
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