S Corp - Sell of Sec 179 asset Hello,
I have a client, he had expensed assets using section 179 in prior years, and now he has sold them but still remaining life on those assets. So, my question is how to calculate the recapture and how to calculate the gain/loss on the assets. Let's say, bought 1/1/2008 for $10, 000.00 5yrs, but the asset was sold on 12/31/2010 for $3,000.00 - please advise
Thanks in advance |