How to enter in Lacerte: Depreciation recapture for vehicle use dropping below 50%

Forum|Forum|6 years ago
February 17, 2020
2 replies
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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.

Lacerte Tax

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M

MaryCPA

Level 2

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.