KrisD15
Expert Alumni

Business & farm

Yes.

 

You are correct in the fact that TurboTax cannot calculate Depreciation Recapture nor Capital Gains for an asset used for both personal and business purposes and the percentage of the use changed year to year. 

 

If you used the Standard Method, you could figure the Depreciation Recapture (if any) by calculating the "Depreciation Equivalent" in the miles you claimed. 

 

As long as the sale price was not more than  your original cost plus the "Depreciation Equivalent" you would have nothing to claim. 

 

In that case telling the software you converted it to personal use would save yourself a headache. 

 

Depreciation Equivalent Chart Page 24

 

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