Even though there is no explicit partnership agreement, your
brother's arrangement with the other two persons could be
considered to be a partnership for federal income tax
persons.

Since the other two persons used the 179 expense, your
brother probably should have done the same.

Rudy
www.LizcanoTaxServicesLLC.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

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.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >