grandmabee Posted March 30, 2010 Report Share Posted March 30, 2010 I have a big truck which was not subject to limits but this year (6th) business use down to 34.% So I know I must recapture the 179 and figure regular depreciation and claim in on 4797 part iv and income goes to sch c on other income line. But how do I adjust basis for the recapture to see what deprecation is for this year. Do I just change the cost on the asset form by the increase. I need help making the program work. thanks Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 31, 2010 Author Report Share Posted March 31, 2010 BUMP Quote Link to comment Share on other sites More sharing options...
Bart Posted March 31, 2010 Report Share Posted March 31, 2010 I have a big truck which was not subject to limits but this year (6th) business use down to 34.% So I know I must recapture the 179 and figure regular depreciation and claim in on 4797 part iv and income goes to sch c on other income line. But how do I adjust basis for the recapture to see what deprecation is for this year. Do I just change the cost on the asset form by the increase. I need help making the program work. thanks I would probably adjust accumulated depreciation so there was an increase in the basis left to depreciate. I would not change the original cost of the truck. Quote Link to comment Share on other sites More sharing options...
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