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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- vehicle less than 50% business use sched c recapture?
vehicle less than 50% business use sched c recapture?
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michele
Level 7
06-13-2022
08:51 PM
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In Lacerte do I need to figure the recapture of depreciation and show it on schedule d disposition. they are keeping the vehicle but need to recapture since they are now at 45%. Only way I could see to do it in the program was to do the d then show as other income.
thx
Michele
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sjrcpa
Level 15
06-14-2022
05:56 PM
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It first gets shown on Form 4797 page 2 Part IV.
There is input for this somewhere in the Dispositions Screen, but it does not get reported as an actual disposition.
The more I know, the more I don't know.
