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Business & farm
Unless you used section 179 and you are still inside the recovery period, you can't just choose to pay recapture now. You have to sell the truck to create a realized gain or loss. If the truck's adjusted cost basis is zero, then any sale will result in a gain, but gains aren't speculative, they must be realized by disposing of the truck in some concrete manner.
‎January 30, 2023
8:39 AM
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