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I need to recapture Sec 179 elections after business use fell below 50%.  I have a few related questions.   1) where do you report the recapture/ income amount on schedule E?  The Sec 179 benefit was reported on Sched E originally 2) How to you adjust the asset worksheet for the assets previously taking the Sec 179 election?  I need to establish a revised basis and get turbotax to calculate the correct depreciation amounts going forward.   Thanks for any insights.

My non-dependent son who we share a 1095 with filed his taxes. When he got to the part asking if he needs to allocate the 1095 to anyone else he mistakenly chose "No." He continued filing (it was accepted) and now it shows he will get a large return. When seeking advice about the mistake, he was told to wait until he received the refund before filing an amendment. My husband and I have not yet filed. I am now reading about a loophole where we could allocate 100% to him and 0% to us and he would get that big refund legitimately. My question is: Since my husband and I have not yet filed, should we just go ahead and claim 0% allocated to us on the 1095 section even though my son's taxes (incorrectly) indicate that he doesn't allocate to another person? Should we file an extension and wait for him to file the amendment on his taxes saying that he does share the 1095 with us at 100% allocation to him and 0% to us? Will the amendment cause any red flags?