Business & farm


@george0707 wrote:


f in 2 years or so, I decide to transfer my Volvo to personal use ... Do I pay recapture when I make the transfer

 

or when I sell the call, say like 10 years later?  


 

Yes, there would be recapture when you convert it to personal use after 2 years.  The other answer did not take into account that a vehicle is "Listed Property".

 

You could also possibly have recapture when it is sold, if the business portion is sold at a gain.