Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Nov 13, 2024 8:46:54 AM

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?

0 3 5758
3 Replies
Level 15
Nov 13, 2024 9:24:35 AM

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? 

Level 15
Nov 13, 2024 9:32:16 AM