Thank you for your response, I get the whole recapture in principal, I will admit it is clear as mud in the IRS publications.
So I will retain the property for personal use, I can go to a website that buys/sells used cameras and get a instant quote for what they would give me for the items, This is around 50-60% of what I paid for them (which makes sense as they are no longer new,) I assume that would be acceptable to use as fair market value if I do not actually sell them?
for example in 2018 I claimed a new camera body for $1999 and used 179 deduction, quote is for $980 right now on website, Do I need to be concerned that it depreciated quicker than 7 years the 179 would indicate? Also I did use for some personal use so I used 90% business use on the 179 deduction (so it shows just under $1800 depreciated). does that mean I would use 90% of fair market value? or since the value is less than 90% already is that irrelevant?
