@kashifned wrote:
took the Section 179 bonus on it as well. Total depreciation for 2023 was $13xxx. The FMV of the car when I started using it for work was $27000.
In 2024, I stopped using the vehicle for work
Yes, there is recapture in 2024. Because you took accelerated depreciation of Listed Property (your picture shows you took Bonus Depreciation, not Section 179, although the same recapture rule applies to Section 179), there is recapture because the business percentage dropped to 50% or less.
The other comments are referring to different kind of recapture that MIGHT apply when it is sold. But in your case, you need to deal with recapture of the accelerated depreciation on your 2024 tax return.
In answer to your question, I THINK it is reported in the "Sale of Business Property" section (even though it was not sold yet). I think one of the first questions asks about Section 179 or Listed Property. But maybe someone else can give you more detailed information about that.
[Edited to clarify you took Bonus Depreciation, not Section 179].
