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Business & farm
You must be using the desktop version of Premier because Self Employment is not supported in the online version of Premier. During the disposal interview, TurboTax will ask if any sec 179 was taken, that's when it calculates any early recapture. All the desktop versions and the online Self Employed version will calculate the recapture. While entering your income and expense in your ____ schedule C (I hate to say final, you may be back in business next year!) you need to report "the disposal of your assets". To do that, find your business Asset Summary, click "Edit" on each asset in your business. Follow the interview. That's when they are removed from your Depreciation Report/Schedule form 4562, not simply filing a (final) schedule C.
May 31, 2019
5:32 PM