Section 280F Recapture dialog

Use this window in the asset module to enter business use percentages so the application can calculate recapture under IRC section 280F. After you enter the percentages, verify that the recapture amounts transfer to Part V of Form 4797.
This window automatically opens when a prior-year asset's business use percentage, in the Vehicle/Listed tab, falls below 50 percent in the current year.
To open this window, open the Depreciation tab in the Asset Detail window and select Tasks, Section 280F Recapture. Note that this command is available only if the asset's business use percentage is less than 50 percent, and if the asset's current and prior depreciation have been calculated.

Fields and buttons

Prior years' business use percentages group box

This box 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.
This box 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.
This box 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.
This box 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.
This box 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.
This box 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.

Other fields and buttons

This box displays the depreciation taken in prior years based on business use percentages of 50 percent or greater. You can't modify the information in this box.
This box displays the amount of depreciation that should have been taken based on the percentages displayed in the Prior Years' Business Use Percentages group box on the left. If desired, enter a new amount in this box.
This box displays the difference between the amount displayed in the
Section 280F deduction
box and the amount in the
Depreciation or recovery deduction
box.
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