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Business & farm
@kathyv wrot
Cost basis $29,360 purchased 3/2019 - straight line depreciation would be $5872 per year for 5 years.
Through 2021 I've taken depreciation totaling $13,351.
Using straight line calculation through 2021 depreciation would be $17,616 so no recapture due, correct?
Does the $13,351 include the $11,656?
Was it 100% business use? It not, that needs to be factored in. Based on your numbers, that does not seem to be the case.
The $17,616 would be assuming 100% business use. Is that the case?
‎January 26, 2023
4:37 PM