Section 179 Recapture- removed asset from business

[mrduvall]

I am very much struggling with 179 recapture.  @Anonymous_ 

Situation- At the end of 2019 purchased a truck for the business for $46,580.  Took the full 179 deduction in 2019.  Had to pull the asset out of the business 01/01/2020.  Did not sell the asset, just converted to 100% personal.  The 179 deduction in 2019 was allocated 100% to one of three partners. 

QUESTION 1- On the Section 179 Disposition Report, what should be listed as the sales price? Asset was purchased in 2019 for $46,580 and fully depreciated through 179. If I add a straight line year of depreciation for 2019 of $9,316 ($46,580/5) should I list the "sales price" as $37,264 ($46,580 - $9,316)? I didn't sell the asset only removed it from the business. As such, should I leave sales price blank and add the $9,316 in the allowable depreciation column (g)?  Is straight line correct or should I use MACRS?

QUESTION 2- Section 179 Disposition Report indicates that these assets should not be entered on Asset Entry Worksheets. It exists there from last year. How do I remove it from this sheet or is that necessary?

Greatly appreciate any assistance you can provide.  Other than the 179 activity the return is extremely simply/basic, just has been very confusing trying to nail down the recapture.

Thanks,

Reed

[Anonymous_]

You should contact Support for exact input entry for your transaction.

What is the TurboTax phone number? (intuit.com)

Although you may be on the right track, I am not certain whether or not TurboTax Business handles your particular scenario properly without resorting to Forms Mode and, perhaps, overrides.

Further, the scenario appears to be complicated by the special allocation made to one partner. You should seek professional tax guidance, in person, if Support is unable to provide input instructions.