Depreciation Recapture on Vehicle Converted to Personal Use
I purchased a vehicle to rent as part of a business. I took the bonus depreciation in 2023. If I decide to convert that asset to personal use (100%) - but not sell it - how do I recapture the depreciation I took all at once?
035990
3 Replies
Anonymous_
Level 15
Nov 13, 2024 9:24:35 AM
tara_nj
Level 2
Nov 13, 2024 9:30:34 AM
Will I have to recapture any of the bonus depreciation I took last year as income this year based on that change?