I need to recapture Sec 179 elections after business use fell below 50%. I have a few related questions.
1) where do you report the recapture/ income amount on schedule E? The Sec 179 benefit was reported on Sched E originally
2) How to you adjust the asset worksheet for the assets previously taking the Sec 179 election? I need to establish a revised basis and get turbotax to calculate the correct depreciation amounts going forward.
Thanks for any insights.
