Hello,
I dissolved an S-Corp in 2021. TurboTax created a Section 179 disposition report that was included with my K-1. How do I report this information on my 1040? There just a few assets--filing cabinet, desk, etc.--that were old and were disposed of. Everything would be fully depreciated under MACRS except for two items.
I cannot determine how Section 179 depreciation recapture would affect the basis (and subsequent disposal) of these two items and how I should report this on my 1040.
Additionally, do I need to report anything for the other disposed-of assets that would be fully depreciated under MACRS?
Thanks for your help!
