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Business & farm
The software appears to be reporting the transaction correctly.
IRS publication 544 page 27 Depreciation Recapture states:
"If you dispose of depreciable or amortizable property at a gain, you may have to treat all or part of the gain (even if otherwise nontaxable) as ordinary income."
The gain or loss is reported on IRS form 4797 Sales of Business Property. You should be able to review this form in your tax return and verify the numbers.
I suspect that the transaction was reported on page 2 Part III and the transaction was reported on lines 20 through 25. The Freightliner was likely reported as 1245 property.
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March 5, 2020
10:30 AM
1,049 Views