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Investors & landlords
I followed the steps on the interview and indicated I'd stopped using the vehicle on 12/19/24. On the "Do any of these apply screen: I checked started using as personal vehicle 100% and % of business use varied. I answered yes to converted to non-business use.
I then went to Sale of Business Property and selected Any Other Property Sales (as the interview suggested). The box for Recapture or Listed Property was checked. The next screen asked if Sect 179 / Listed Property business was less than 50% for the first time. I selected NO. (only used vehicle since 2022 and business use was never more than 20%, no Sect. 179 deduction taken - just standard mileage deduction.
My question is there are no further questions to answer in the Interview. When I review my forms, the Car and Truck Worksheet form Part VII Disposition of Vehicle shows: "date sold, given away or abandoned as 12/19/24. The reminder of the worksheet is blank. Have I completed this conversion to non-business use correctly?
Again, many thanks!