Question

TT asked "Did you qualify for an investment credit recapture?" I clicked the "Learn More" link and got information about "Section 179 recapture." Is this the same?

Forum|Forum|5 years ago
March 31, 2021
1 reply
0 views

I already covered Section 179 in my self-employed section. This "investment credit recapture" is in the "uncommon tax situations" section. Seems like TT sent me to the wrong place.

TurboTax Self Employed Online

T

ThomasM125

The investment credit recapture refers to adding back to your tax an investment credit taken in a previous year. An investment credit can apply to investments in rehabilitation, energy, coal, gasification or energy projects.

It would not be associated with your section 179 recapture, which represents depreciation on business asset purchases.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"