No, that is not quite correct.
What you are reading about "straight line" is when an asset drops to under 50% business use and you had taken Bonus or Accelerated deprecation on it previously.
In that case, you have to figure the straight-line depreciation and claim the excess that year.
For example, you buy a car for 30,000 and use it 75% business. You take Bonus Depreciation and claim 50% the first year which is 15,000.
The next year the use drops to 20% business and 80% personal. You would have to recalculate the depreciation to straight-line which would be 6,000 per year. So 6,000 the first year and 6,000 the second year. That's 12,000. You already claimed 15,000 so THAT year you would have to claim 3,000 as income.
You continue using the vehicle less that 50% for two more years, each year taking 6,000 and decide to sell it.
Your adjusted basis is 30,000 - 24,000 (depreciation) = 6,000
You sell for 10,000
You have 4,000 depreciation recapture which is ordinary income.
It it became a classic and you sold it for 32,000 you would have 24,000 ordinary income and 2,000 Capital Gain.
Depreciation Recapture
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