Sec 179 Recapture

[Unregistered]

If an individual expenses the entire amount for an item purchased for a Schedule C company in 2004 and then closes the company in 2005, is the entire recapture amount accounted for in 2005 or do you recapture it over the remaining part of the 5 year life? I cannot find this specifically referred to but may be trying to read too much into things.

Thanks.

[KJ Judd]

Recapture all in 2005.

[veritas]

recapture 179 in excess of allowable depreciation.

[KJ Judd]

I agree. I meant the all the recapture amount is reported in 2005.

[Unregistered]

Thanks

Thanks to everyone for your help.