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Can I remove section 179 recapture amounts on form 4797? I inadvertently reported an asset on Schedule C as converted to personal use. I tried to delete form 4797.

I was able to go back and answer that the asset disposition wasn't changed, but could not find where I could correct or delete form 4797. Review shows I need to enter the disposition date for the asset sold.  I did not sell it or convert to personal use.
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3 Replies
AmyC
Expert Alumni

Can I remove section 179 recapture amounts on form 4797? I inadvertently reported an asset on Schedule C as converted to personal use. I tried to delete form 4797.

If this all took place in 2020, you can delete the 4797 and change your answers. If if is carrying forward from 2019, then 2019 also needs to be addressed.

 

You may need to delete several worksheets as well as the 4797. The program will hold on to information it feels is needed. See How to Delete. In addition, you may have information stuck in there.

 

Stuck information

  1. Delete the form:
    1. How to Delete  Log out of your return
    2. Try one or more of the following:
      • Don't use Internet Explorer.
      • Clear cache and cookies,
      • Sign in using a different browser.
      • Sign in using a different device.
    3. Log back into your return.
    4. Enter the form again.
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Can I remove section 179 recapture amounts on form 4797? I inadvertently reported an asset on Schedule C as converted to personal use. I tried to delete form 4797.

Amy after clearing browsing history, I was able to delete the forms 4797.  The Federal review still comes up with an error - Check Entry 

 

Schedule C -Asset Entry Worksheet - Date Sold Must be entered

I did not sell this asset.

AmyC
Expert Alumni

Can I remove section 179 recapture amounts on form 4797? I inadvertently reported an asset on Schedule C as converted to personal use. I tried to delete form 4797.

The program has two places to mark the asset sold. Go back through your asset entries inside of the sch C. One of them must be marked disposed. You may want to do a print preview of your return to see where the problem is. If you have not paid, it will ask for payment before you can do the full print.

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