Recapture of Section 179 property converted to personal use
How do you recapture Section 179 expense on Lacerte?
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02/11/09 11:30am PST
Viewed by asker 06/15/11 3:06pm PDT
Viewed by asker 06/15/11 3:06pm PDT
3 Replies
PhoebeRoberts
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02/11/09 12:30pm PST
Not directly on-point, but http://community.intuit.com/po...
If you can't figure it out from that, the F1 help, plus the 4797 instructions, comment back and I'll figure it out.
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02/01/10 4:56pm PST
If you had the item on your depreciation schedule, and show it as a sale in the depreciation section, the computer will automatically recapture all prior depreciation.
02/01/10 4:57pm PST
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Sorry just realized you said converted to personal use - but it will still recapture when you enter the date the property goes out of service.
