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Level 6
June 14, 2022
Question

vehicle less than 50% business use sched c recapture?

  • June 14, 2022
  • 1 reply
  • 2 views

In Lacerte do I need to figure the recapture of depreciation and show it on schedule d disposition. they are keeping the vehicle but need to recapture since they are now at 45%. Only way I could see to do it in the program was to do the d then show as other income.

thx

Michele

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1 reply

sjrcpa
Level 15
June 14, 2022

It first gets shown on Form 4797 page 2 Part IV.

There is input for this somewhere in the Dispositions Screen, but it does not get reported as an actual disposition.

The more I know the more I don’t know.