More cops and robbers. If you are finding yourself limited in Section 199A qualified business income deduction because of depreciable assets (2.5% of the unadjusted cost basis right after acquisition is the calculation), you might be inclined to buy something on December 31 and sell it on January 1.
Nope. According to Proposed Regulations 1.199A-2(c)(1)(iv) if you buy qualified property within 60 days of the taxable year-end, dispose it within 120 days of purchase date, and do not enter the qualified property into service for at least 45 days, it does not count towards the Section 199A calculation.
Nice try however. Remember, IRS consultants and attorneys read tax planning articles too. There are many talented and gifted people working in certain IRS departments. Stop laughing! It’s total true.
Taxpayer's Comprehensive Guide to LLCs and S Corps : 2019 Edition