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Get your taxes done using TurboTax
Here are the answers to your questions:
- The recapture amount will be listed as additional income on your Schedule E. Add it as cash, check, etc.
- The cost of your vehicle doesn't change, the business use percentage changes and the life actually runs longer due to the change to straight line depreciation (no longer an accelerated rate) and the recaptured amount.
[Edited: 04/16/2025 | 2:54 PM PST]
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‎April 15, 2025
10:32 AM