Ok, I found where to enter it in Premier, but I would still have to do all the calcs. Federal Taxes>Business Items>Sales of business property. The "learn more" warns "amounts that flow to other forms are not included in the total 2016 amounts for certain business property..." Click thru and you can choose "a recapture from a previously taken 179". It asks if your biz use fell under 50%. (there is no list of the assets).
Click thru to 179 recapture. Two boxes: sec 179 taken when property was purchased and Depreciation that could've been taken through 2016. In the underlined help link: in the second box you must calculate the depreciation...using any allowable method, see IRS pub 946. If you have more than one sec 179 asset to recapture this year, prepare a statement showing your computations for each asset, and enter totals in the boxes on the screen. Then attach the statement to your return.
Then I guess you manually enter the recapture total on Schedule C Other Income. Not sure what you do with the individual asset. Does Home & Biz make this easy? It's definitely worth a $10 upgrade!!! Thank you again!
