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Special Depreciation in a S-Corp
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Pablo Escobar
Level 2
10-09-2023
10:26 PM
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Strange situation; 60% shareholder doesn't want to take special depreciation. The 40% shareholder says he can take special depreciation proportionally to his 40% shareholding. Is it allowed by IRS?
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qbteachmt
Level 15
10-10-2023
11:31 AM
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"proportionally to his 40% shareholding"
Ha ha ha. That's a new idea I've never seen expressed. Wow.
Since all he owns is Shares, they don't depreciate. Remind this person the corporate entity is separate from themselves.
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