Purchased a vehicle in 2017 for $44,000 and took 179 deprecation. I have used it over 50% for business for 5 years. It is now worth $30,000 and I will not be using it for business going forward. 1. Are there any tax consequences for converting to personal use next year? 2. If I were to sell the vehicle, would the gain be ordinary income or a capital gain? If a capital gain, would there be any reason I could not offset against accrued capital losses?
