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Investment Credit Recapture dialog
Use this window to enter business use percentages so the application can calculate investment credit recapture. After you enter the percentages, verify that the recapture amounts transfer to Form 4255.
This window automatically appears when you dispose of an asset that has an entry other than A, L, N, O, P, Q, V, or W in
Credit
in the Depreciation tab.To open this window, select Tasks, Investment Credit Recapture. Note that this command is available only if an asset has a credit code other than A, L, N, O, P, Q, V, or W in the Depreciation tab and the asset has been sold, or business use drops below 50 percent.
note
This windowis not available for aggregate assets.
Fields and buttons
Prior years' business use percentages group box
Current year
Displays the current-year business use percentage as entered in the asset's Vehicle/Listed tab. If desired, enter a new percentage in this box.
note
The application automatically updates the selected asset's information in the Vehicle/Listed tab if you change this percentage.
Last year
Displays the previous year's business use percentage as entered in the asset's Prior Depreciation Comparison window. If desired, enter a new percentage in this box.
note
- This defaults to 100 percent if information has not been entered in the Prior Depreciation Comparison window.
- The application automatically updates the asset's information in the Prior Depreciation Comparison window if you change this percentage.
Two years ago
Displays the business use percentage from two years ago as entered in the asset's Prior Depreciation Comparison window. If desired, enter a new percentage in this box.
note
- This is available only if the asset is at least two years old.
- This defaults to 100 percent if information has not been entered in the Prior Depreciation Comparison window.
- The application automatically updates the Prior Depreciation Comparison window if you change this percentage.
Three years ago
Displays the business use percentage from three years ago as entered in the asset's Prior Depreciation Comparison window. If desired, enter a new percentage in this box.
note
- This is available only if the asset is at least three years old.
- This defaults to 100 percent if information has not been entered in the Prior Depreciation Comparison window.
- The application automatically updates the Prior Depreciation Comparison window if you change this percentage.
Four years ago
Displays the business use percentage from four years ago as entered in the asset's Prior Depreciation Comparison window. If desired, enter a new percentage in this box.
note
- This is available only if the asset is at least four years old.
- This defaults to 100 percent if information has not been entered in the Prior Depreciation Comparison window.
- The application automatically updates the Prior Depreciation Comparison window if you change this percentage.
Five years ago
Displays the business use percentage from five years ago as entered in the asset's Prior Depreciation Comparison window. If desired, enter a new percentage in this box.
note
- This is available only if the asset is at least five years old.
- This defaults to 100 percent if information has not been entered in the Prior Depreciation Comparison window.
- The application automatically updates the Prior Depreciation Comparison window if you change this percentage.
Other fields and buttons
Date property ceased to qualify
Displays the date on which the property ceased to qualify for the investment tax credit. If you disagree with the date displayed, you can change it.
Original credit amount
Displays the original investment credit amount that was taken for this asset. You cannot modify this amount.
Recapture percentage
Displays the recapture percentage that is used to calculate the recaptured amount of the investment credit.
Recapture amount
Displays the recaptured amount of the investment credit. You cannot modify this amount.
Do not compute recapture
Mark this checkbox to prevent the application from calculating any investment credit recapture for the current asset.