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Must I pay recapture of Sec. 179 on a vehicle (100% bs on Sch C) when I retire after 5 yrs even if vehicle is fully depreciated? If I keep for personal after I retire?
I want to take Sec 179 Depreciation on my newly purchased 100% bs vehicle (Sch C) but am worried when I retire in 5 yrs from my business, will I have to pay recapture on the 179. It will be fully depreciated but I will continue to use for personal use. Should I take the 179 now or use Std Mileage. This is my first year of using the new truck.
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‎June 3, 2019
1:10 PM