Election to Expense Assets (LO. 5) Brad is a shareholder and full-time employee of a earns a $50,490 its n S corporation. During 2017, he salary from the S corporation and is allocated $11,680 as his share of net opera ting loss. In addition, Brad owns a limited partnership interest from which he earns $11.680 during 2017. Kanika, Brad's wife, operates a small business as a sole proprietorship. During 2017, she spends $70, 190 on equipment for use in her business o before the Section 179 deduction a. Brad and Kanika's maximum Section 179 deduction for 2017 iss but will be limited to $ from the b. Assume that Brad is allocated $ corporation for 2018 and Kanika spends an additional $14,120 on equipment for use in her business. Also, assume that their taxable active business income is $35,000 for 2018 If Brad and Kanika elected in 2017 a Section 179 expense up to their trade or business income, their deduction for 2018 is $ If Brad and Kanika elected in 2017 the maximum Section 179 expense, their deduction for 2018 is comprised of s and election. Their maximum deduction for 2018 is s carryforward and qualifying property