Form 4797 is not generating in the 1065 or 1120S return using worksheet view in CCH Axcess™ Tax and CCH® ProSystem fx® Tax.
The program will not assume that the Section 179 recapture from a disposed asset is to be treated as depreciation. By default the program will create the Schedule K - Dispositions of Property With Section 179 Deductions statement and the disposition or group disposition will not be included on Form 4797. To remove the statement and generate Form 4797, do the following:
- Go to Income/Deductions > Section 179/280F Recapture Sec. 179 Transaction Report worksheet.
- In Section 1 - Section 179 and 280F Recapture.
- On Line 3 - Treat Section 179 recapture on dispositions as depreciation (1065/1120s only), check the box.
- Calculate the return.
- If you have a group disposition and do not want to treat the Section 179 recapture as depreciation but want the assets disposed that don't have Section 179 to flow to the 4797 then the group disposition will need to be split into two group dispositions.