Re: Depreciation Recapture on Vehicle Converted to Personal Use

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?

posted

Will I have to recapture any of the bonus depreciation I took last year as income this year based on that change?

Adjustments to Sub S balance sheet for dissolved corporation with outstanding shareholder loan balances

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Depreciation Recapture on Vehicle Converted to Personal Use

Depreciation Recapture on Vehicle Converted to Personal Use

Depreciation Recapture on Vehicle Converted to Personal Use

Depreciation Recapture on Vehicle Converted to Personal Use

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Depreciation Recapture on Vehicle Converted to Personal Use

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Depreciation Recapture on Vehicle Converted to Personal Use

Depreciation Recapture on Vehicle Converted to Personal Use

Depreciation Recapture on Vehicle Converted to Personal Use

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