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Level 2
March 4, 2022
Question

Truck no longer listed property, converted to personal use. How do I note this in Lacerte?

  • March 4, 2022
  • 1 reply
  • 17 views

Client is getting rid of business, listed vehicle. I thought there was recapture when use went to less than 50%, but I don't know what I need to do in Lacerte to trigger that. Thanks in advance. 

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1 reply

sjrcpa
Level 15
March 4, 2022

You need to manually compute it. Then enter in the Dispositions Screen-Carryovers/Misc Info

The more I know the more I don’t know.
Level 2
March 4, 2022

Dang. Ok. I was looking for a beautiful button that would do it for me! Thanks.