I’m in year 3 of a photography business I started and I took expenses and a section 179. Altogether under 13k. The section 179 was probably a few grand but I don’t recall at the moment. We’ve had some travel and personal issues get in the way and needed to put this on hold or only do it part time so my income this year was only couple hundred bucks. Should I do a section 179 recapture or just not claim any expenses to show a meager profit?
What will happen to the items you used the 179 exclusion on? Are the being sold? Used? Stored?