I used, and depreciated a vehicle (100% business) for one business. That Business has closed how do i transfer the vehicle to my new business? Do I pay recapture tax?

[DanielV01]

Is the vehicle registered in your name or the business' name?

[2dogs2]

It is in my name.

[DanielV01 · Accepted solution]

Since the vehicle is in your name, there is no "transfer" that needs to take place.  You will list the vehicle as a "new" asset, but when asked the purchase price of the vehicle, enter $0.  If you were using the actual expense method to take expenses on the vehicle, you will continue to do so (claiming actual gasoline, oil, maintenance, insurance, etc. expenses).  

There is no depreciation recapture on the vehicle because there was no exchange of money.  The vehicle was yours in one business and continues to be yours, so you are transferring it from one business to the other.