Recapture section 280F amounts

To enter business use percentages so the application can calculate recapture under IRC section 280F, perform the following steps. When recapture is necessary because the business/investment use percentage for listed property or luxury automobiles falls to 50% or lower, the application automatically calculates the section 280F recapture amounts.
  1. Open the client and, if necessary, select an activity folder.
  2. From the
    Asset List
    window, select the asset and select the
    Modify
    button to open that asset's record in the
    Asset Detail
    window.
  3. Select
    Tasks
    , then
    Section 280F Recapture
    .
  4. In the
    Section 280F Recapture
    window, enter the percentages.
  5. Verify the recapture amount displayed in the
    Recapture amount
    field is correct. If it is not, enter a new amount in the
    Depreciation or recovery deduction
    field.
  6. Select
    OK
    . The amount in the
    Recapture amount
    field transfers to Part IV of Form 4797.
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