nwiawonder
Level 1
04-29-2022
04:39 PM
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I have Sec 179 depreciation recapture do to business use falling below 50% (to zero actually) but I can not get the Sch K1 (Form 1065) to show Code M.
The assets were 7 year property & only used for 2 years.
Any suggestions?
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TaxGuyBill
Level 15
04-30-2022
09:45 AM
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Just to make sure it is being handled correctly, I'm going to ask what happened to the asset? Sold? Idle? Partners used it for personal use?
nwiawonder
Level 1
04-30-2022
11:47 AM
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They retired from the business. They did not sell the asset. They still have the asset and use personally.
