Farm truck moved to separate business

[Txmex24]

I depreciated a truck for farm use last year.  I have since sold my farm and placed this truck in a new hauling business I opened.   How do I "move" this to my new business?  Do I recapture on the farm side and then redo it on my hauling business?  I just took macrs depreciation.  No bonus or section.

[ColeenD3]

Yes, include the depreciated basis of the car in your new business. You would mark it as converted to personal use for the farm and then add it to the business with the new adjusted basis.

[Txmex24]

So if I depreciated $16200 and valued at $40000, the basis would be $23800?  

[ColeenD3]

Yes, that would be the adjusted basis of the asset you place in service for your business.

[AmeliesUncle]

Was it actually converted to personal use?  Or did it basically get transferred from one business use to the other business use?

If it was transferred from one business use to the other business use, in my opinion you enter it in the new business using the ORIGINAL information (the same Basis and same "placed in service" date).