I have been self employed since 2009. For 2022 and 2023, I had no self employment income due to illness. Only my wife had a W2. I did not report a schedule C for 2022 or 2023 as I had no expenses or income. We have used all depreciation and section 179 on equipment and property. Two items are almost to their full life, next year. I want to close this business down at the end of this year. So when I file my 2024 taxes, do i have to recapture anything at that time? I have not sold anything. I might not sell any of the equipment for a couple years. I need to do some repairs first. How do I go about this?
