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Accessing Form4797 Part IV on p.2

Forum|Forum|3 years ago
January 9, 2023
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My business use of car fell below 50%. I am supposed to calculate recapture of car depreciaton.

Instructions: "You will see two versions of Form 4797, page 2 on the menu. You must use the one labeled "Enterable 4797, page 2." This version is designed for manual entries." That one is not available, only the (fully calculated) one. How do I access the manual Form 4797?

Also, how to get a Ttax support ID?

Best answer by DianeW777

Yes, the answers to both questions follow.

The 'Contact Us' page currently provides a number to call at the moment. You can always check back periodically for a link to obtain the Support ID.
As indicated by @CatinaT1 the Instructions for Form 4797 provide the details on where to transfer the number from line 35. They are placed below for your convenience.
- Line 35: Subtract line 34 from line 33 and enter the recapture amount as “other income” on the same form or schedule on which you took the deduction. For example, if you took the deduction on Schedule C (Form 1040), report the recapture amount as other income on Schedule C (Form 1040).

Note. If you filed Schedule C or F (Form 1040) and the property was used in both your trade or business and for the production of income, the portion of the recapture amount attributable to your trade or business is subject to self-employment tax. Allocate the amount on line 35 to the appropriate schedules.

CatinaT1

This calculation is not supported in TurboTax.

IRS instructions for Form 4797 can be found here and the form is here. You will need to manually fill out the form and paper file your return.

Here is information on getting a TurboTax Support ID.

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T

throg11Author

I got partial answer. No reply on how to get the support ID needed to use the phone number given.

Also, no reply as to on what form/line in TTax Premier to carry over the result from Form 4797, line 35 (recapture amount). CatinaT1 seems knowledgeable. Surely she or another TTax employee can help with that latter question.

Thanks, CMA

D

DianeW777Answer

Yes, the answers to both questions follow.

The 'Contact Us' page currently provides a number to call at the moment. You can always check back periodically for a link to obtain the Support ID.
As indicated by @CatinaT1 the Instructions for Form 4797 provide the details on where to transfer the number from line 35. They are placed below for your convenience.
- Line 35: Subtract line 34 from line 33 and enter the recapture amount as “other income” on the same form or schedule on which you took the deduction. For example, if you took the deduction on Schedule C (Form 1040), report the recapture amount as other income on Schedule C (Form 1040).

Note. If you filed Schedule C or F (Form 1040) and the property was used in both your trade or business and for the production of income, the portion of the recapture amount attributable to your trade or business is subject to self-employment tax. Allocate the amount on line 35 to the appropriate schedules.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"