Question
179 recapture on 1120S
We are an S-corp and I sold assets that need a 179 recapture of depreciation. The 1120S form does not have a place to report this. I read something about the recapture being reported on the Schedule K's. My depreciation expense is not showing the recapture either. Can someone please explain how this is being handled? Where would I verify the amount is showing on the Schedule K? Do I need to enter it on the Schedule K manually? If so where. Do I do enter it anywhere on the 1120s?
