If I use my car for business and take the standard mileage deduction, do I have to track basis, depreciation, etc. and then account for all of that when I sell the car? What about if I give the car to my spouse or child and then buy another car that I then use for my business? Is that the same as taking the first car out of service for business purposes? Or what if I simply choose not to bother with the car issue at all in future years - I'm still using it but no longer wish to make use of the favorable tax treatment otherwise available to me? Can I simply say I've taken it out of service and be done with it? My concern is around potential recapture issues as well as any others I may not be aware of.
