1120s K-1 employee/stock holder-Received 1120s K-1 with #9 section 1231 gain $10,000 # 16-d 13000
17-k sales of fixed assets show sales price 200, basis 502, dep allowed 92 and section 179 357.00
Basis in company 3000.
there is an additional note to the K-1portion of sect 179 recapture is 358.00 less allowable dep 208.
The section 1231 gain along with line 17-K will be shown on form 4797 part 1 line 2.
My question is how to treat section 179 recapture of 358 less allowable dep of 208 and determining the capital gain on the distribution |