@jenny-lee635 You mentioned that you took section 179 depreciation on the assets, but also said you had a loss on your business. The section 179 depreciation cannot be used in a year where you have a loss before the depreciation is deducted. So, it may be that you didn't deduct any depreciation on the assets, in which case you wouldn't need to recapture any of the depreciation in 2020.
You would be entitled to depreciation in 2020 up until the date you sold the business. If you work through the questions in TurboTax regarding the disposition of the business, the program should report any income associated with the recapture of depreciation.
You will be entitled to your stimulus checks even if you file your tax return in October.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
