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Recapture for Vehicle No Longer Used for Business Purposes
I purchased a vehicle in 2018 and used it for 100% business use in 2018 & 2019. I reported the actual business mileage for those years. I no longer use the vehicle for business purposes as of 1/1/20 and have used the vehicle for personal use. Do I need to report the recapture information? If so, how do I calculate the straight-line depreciation on the vehicle?
‎April 13, 2021
6:27 PM