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Trying to figure out the input fields for getting depreciation recapture on a business vehicle that dropped below 50%. Vehicle was not sold. Needs to populate on 4797 part 4. Cant seem to figure out the input fields to use in Lacerte Partnership, screen 14. Any help would be appreciated.
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Input "business use <50%" as a memo in the disposition property description on screen 17.1. Then click on the Carryovers/Misc Info link above the disposition properties list on the left side of the screen. Form 4797 input for section IV - Recapture of 50% or Less Business Use is next to the bottom of the sections. Then don't forget to manually enter this depreciation recapture amount as Other Income on the appropriate Schedule C, etc. wherever it belongs.
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The input for recapture on Form 4797 Part IV is on the dispositions screens as follows:
S Corp screen 23 Miscellaneous Info
Partnership screen 19 Miscellaneous Info
Individual screen 17.1 Carryovers/Misc Info
