Recapture depreciation on truck after selling business and converting to personal usetion

[DFS1]

We sold a small sole proprietorship in January 2023 and the only asset not included in the sale was a truck which we used about 75% in the business.  We have depreciated the truck fully (75%) using section 179, but have now converted it to personal use.  Confused as to how we report the conversion on our tax form and arrive at the amount we need to recapture.  Do we need to recapture 75% of the actual purchase price, or is there some adjustment for the fact that the truck is worth much less than it was when new, an amount we would receive if we sold it.

[Anonymous_]

See https://www.irs.gov/publications/p946#en_US_2022_publink1000107452

Since your business use has dropped to 50% or less (actually it is not 0%) so recapture is triggered.

[AmeliesUncle · Accepted solution]

This is how that kind of recapture works:

1. Calculate the total amount of depreciation you actually took (including the Section 179).
2. Calculate the total amount of depreciation that you could have taken if you only used Straight-Line depreciation (no Section 179, Bonus depreciation, or accelerated depreciation).
3. Take the result from #1 and subtract the result from #2.  That is the recapture amount.

I think that is reported in the "Sale of Business Property" section of TurboTax, but I don't remember how much guidance it give you.