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In preparation for the 3/17 deadline, see our most popular resources on the Hot Topics page. Lacerte | ProConnect | ProSeries
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Section 179 recapture on sale of partnership asset.
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pbuckman
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5 hours ago
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Section 179 depreciation was elected for an asset purchased in 2020 and traded-in in 2024. Purcahse price $57700, trade in value $47,000. I believe I need to record the recapture of the depreciation and record the sale on form 4797, but don't see how/where to do this on the form.
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