This is known as recapture. Enter box 77 - Asset number. I would have reported that in the normal spot on Schedule K-1 line 16. RulesDepreciation allows a portion of the cost of a fixed asset to the revenue generated by the fixed asset. The asset remains on the books at 3400 but it's value has been reduced by Depreciation of 100%. Double declining depreciation is a good method to use when you expect the asset to lose its value earlier rather than later. It looks like I have alot of homework to do. How Much Does Home Ownership Really Cost? Actually, yes. ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8982"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"
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