Depreciation (including the portion of the Standard Mileage Rate) is recaptured if you sell the vehicle at a gain. The "useful life" is probably 3 years. The "Recovery Period" is 5 years. As I said before, depreciation (including the portion of the Standard Mileage Rate) is recaptured if you sell the vehicle at a gain.
Your vehicle cost is $8,000 and your business basis is $560
@MauryM
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