Cheryl305
New Member

CLOSED BUSINESS IN 2024, NO SALES HAD SEC179 ASSET IN 2022. DO I RECAPTURE DEPRECIATION

RETIRED AND CLOSED BUSINESS IN 2024 NO SALES. 2022 TOOK SPECIAL ALLOWANCE AND  SECTION 179 ASSET WITH 5 YEAR LIFE. SO DO I RECAPTURE DEPRECIATION. CONVERTING TRUCK TO PERSONAL USE. SHOULD I HAVE USED 3 YEAR LIFE?