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After you file
You may have Depreciation Recapture whether you use Actual Expenses or Standard Mileage deductions when you sell or trade-in your Business Vehicle.
On average, the vehicle is entirely depreciated in 5 years (or the business use portion of the vehicle is fully depreciated in 5 years). It just depends on the actual business miles driven and has nothing to do with the percentage of business use when it comes to the recapture of depreciation.
Here's more info on Using a Vehicle for Business and Depreciation Recapture.
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March 17, 2023
12:16 PM