1. Yes, booking the conversion to personal use as a distribution to the owner is an acceptable accounting entry.
2. The depreciation recapture would be recorded with the sale. If the vehicle remains a personal use asset, then the gain on the sale would be reported by the owner.
3. Yes, "disposal other than a sale" is the correct option for this transaction.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
