K-1 Line 17 code K 179 recapture does not appear to flow anywhere on 1040 series

[jblynch]

Have a client with $32K of what should be sec 179 depre recapture from closure of a business where assets were basically scrapped.  The K-1 info has been entered into the 1040 series file exactly as it appears from the sending 1120S but it does not seem to flow anywhere....a related line 33 of Form 4797 where it might be possible is blank.  I'm concerned that the effective recapture has been shorted.  Not yet comfortable filing the client 1040.  Thanks in advance!  Jeff LYnch

[Just-Lisa-Now-]

Is this an 1120S K-1?    That Line 17 Code L has a * next to it that says you have to manually input that figure where it goes.

[jblynch]

Correct, the matter is coming from an 1120S K-1.  It actually has both K and V lines with * indicators so had input same on the 1040 K-1 worksheet.  I'd noted that the number did not appear to flow anywhere on the return other than that input field.  Research said it might flow to line 33 of the 4797 but that field does not accept input.  I'd have to over-ride.  That's something I don't like doing....

[jblynch]

OK so finally followed the link to the worksheet to add the detail for noted code K and did input the asset items where the sec 179 fields added to the 32K.  This did not appear to have any impact though it's a very odd situation where the assets were basically scrapped at the date the business was shut down so no gain or loss on sale as the NBV of all 4 items was Zero...