- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
I believe what you mean is that you retired the assets but did not sell them. If so, then you wouldn't need to recapture any depreciation on them. If they had undepreciated amounts, you can report the sale of them for $0 dollars and you will get a deduction equal to the undepreciated amounts. So, you would not necessarily have to report the disposition on your tax return.
You would only have to recapture depreciation if you sold the assets or put them into personal use. If you put them into personal use, you may have to recapture accelerated depreciation on them, and if you sold them for a gain, you would need to recapture any depreciation taken to the extent of the depreciation or gain, whichever is less.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 20, 2023
12:51 PM