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Form 4797 different recapture for federal and state returns

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Form 4797 different recapture for federal and state returns

PaulB

1.  Taxpayer has a sale transaction that includes ordinary, 1245 and 1250 recapture with the balance 1231 gain.  Because WI didn't allow some depreciation in earlier years, WI has no 1245 recapture.  In my attempts to mark the 1245 recapture as US and N on screen 17.1, the program fails to exclude this from the WI return (the 1245 amount is still included in the WI return).  2.  As an aside, screen 17.1 only seems to allow only one form of recapture - I'm not able to list all the forms noted above.  This is a deficiency but I aggregate them in one line and will fend with an auditor if that occurs.  Thank you.

Thanks for the enhancement for a different recapture for federal and state returns for Form 4797. We are changing the status to "Open for voting" since it has been around for over 30 days and no longer considered "New".

Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular. >> Lacerte Idea Exchange

If you have any questions on the life cycle of an idea, check out our Idea Exchange Getting Started Guide for more information.

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1 Comment
IntuitGabi
Moderator
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Status changed to: Open for voting

Thanks for the enhancement for a different recapture for federal and state returns for Form 4797. We are changing the status to "Open for voting" since it has been around for over 30 days and no longer considered "New".

Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular. >> Lacerte Idea Exchange

If you have any questions on the life cycle of an idea, check out our Idea Exchange Getting Started Guide for more information.

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