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Posted by George on April 16, 2006, 2:29 am
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Brother-in-law is 1/3 owner in a blueberry harvester. He is
not in any type of partnership with the other 2 owners
(unless it's implied.) The others notified him that they
sec. 179'd their shares in full. Does my b-i-l need to also
fully sec. 179 his share? He doesn't need that big a loss
on his Sch F and I worry about gain later on a sale since
basis will then be $0.
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