We have a company vehicle that is used 51% for business but also for the owners personal use at 49%. The vehicle is 6 years old and has only been depreciated by business use % so there is still an amount left to depreciate. The owner will no longer use it for the business and will now take it over as a personal use only with $0 exchanged. There is also a small loan amount that owner will take over on his own. I also have not entered deprecation for 2023, which also needs to be recorded. How do I record disposition and depreciation on the company Quickbooks as of 12/14/2023 for the following currently:
Vehicle Asset $80,548.00
Accumulated Depreciation -$30541.28
Loan balance $7516
