179 deduction recapture

[Countingcat]

Equipment we sold in our business (s-corp) is passed over on my Shedule K.  The equipment had a full 179 deduction taken at purchase and the item did not reach its useful life when we sold it.  Turbo Tax Business included a shareholder disposition report with the Schedule K.  I have entered all the info from those forms.  Do I still need to do a recapture on a 4797 for the asset with my 1040?  I've been told the Schedule K info is all I need to enter but the interview is asking recapture questions although they are not intuitively linked to this particular sale.

Example:

Purchase 10/2018 - $94999

Took full 179 in 2018

Sold 12/2020 - $87000

Basis reported on Disposition Report is $94999 with 179 deduction being the same.

[Anonymous_ · Accepted solution]

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@Countingcat wrote:

Do I still need to do a recapture on a 4797 for the asset with my 1040?  

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You simply enter the information from your K-1, and the (disposition statement), into your 1040. 

Form 4797 should be generated by the program and appear in your list of forms.