Business & farm

It depends.  If you used the standard mileage rate (SMR) all years then there is no recapture. Simple mark the truck was removed from service and the date. This should allow you to move forward without any issues. Enter 01/01/2024 as the date you stopped using it for work.

If you did depreciate the truck and used actual expenses, it depends on the business use percentage and the amount of depreciation claimed if, for example, it was used greater than 50% business use in any year since you placed it in service and now the business use percentage has dropped.  The next question would be the year you placed it in service.  If it's been five years, there is no depreciation recapture.

When entering your truck information be sure to select 'Your percentage of business use of the vehicle varied over the years.' Next select Yes 'Did you convert the asset to nonbusiness use? This will eliminate any sales questions.

@sam561

[Edited: 02/18/2025 | 1:38 PM PST]