@Opus 17 wrote:
the IRS could very easily decide that it has been fully depreciated and whatever you made on the sale should be treated as taxable depreciation recapture.
At an average new car price in 2004 of about $22,000, and an average of $.20 per mile for depreciation built into the standard mileage rate since then, you would only have to have driven the car 7500 miles per year on average for business in order to have fully depreciated it.
But if there was personal use, that is not how it works. For example, if the vehicle's average use was exactly 50%, then the Business Basis would be $11,000. And if the business portion was fully depreciated, only 50% of the sale would be taxable depreciation recapture (the gain on the business portion of the vehicle).
