Business & farm

i think what the k-1 is saying is that the original cost was 1538 (actually your share of the cost) which was expensed using section 179.

 

in that case the 1538 becomes section 1245 recapture and the difference (12195-1538) is long-term capital gain.

 

 

if I'm correct the way to enter this it in Turbotax either in forms mode through quickzoom for 20L or step mode is entering the dates, sales price, cost of 1538, enter nothing for other depreciation questions and 1538 as the 179 deduction