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N
nwiawonder
Level 2
April 29, 2022
Question

Form 4797 Sec 179 Depreciation Recapture (Form 1065)

  • April 29, 2022
  • 1 reply
  • 7 views

I have Sec 179 depreciation recapture do to business use falling below 50% (to zero actually) but I can not get the Sch K1 (Form 1065) to show Code M. 

The assets were 7 year property & only used for 2 years.

Any suggestions? 

This topic has been closed for replies.

1 reply

T
TaxGuyBill
Level 15
April 30, 2022

Just to make sure it is being handled correctly, I'm going to ask what happened to the asset?  Sold? Idle?  Partners used it for personal use?

N
nwiawonderAuthor
Level 2
April 30, 2022

They retired from the business. They did not sell the asset. They still have the asset and use personally.

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