In 2019 I bought a truck for my business for $46K. I took the full $46K in section 179 depreciation in 2019. Unfortunately I had to remove the truck from the business at the beginning of 2020 for 100% personal use.
I assume I can use MACRS 5 year for the 2019 depreciation and recognize recapture for the difference. So MACRS depreciation would be $9,200 ($46,000 x 20%) for year 1, and recapture would be $36,800 ($46,000 - $9,200). This would be if I elected to take no MACRS depreciation for year 2 (2020).
How do I correctly reflect this on the Fixed Asset Worksheet and how do I access the Form 4797 as I'm not seeing it when I shift to Forms mode. Once to the 4797, how to I add the MACRS depreciation of $9,200 and total recapture?
