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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.
‎April 30, 2025
8:39 PM