Vehicle conversion

[LynnM3]

Hi if I retired last year should I convert my vehicle to non business use when filing taxes ?

[DaveF1006]

Yes, because you will need to dispose the vehicle to recapture the depreciation taken in prior years. To get started:

1. Select "Business" at the top of the screen.
2. Choose "Continue", then "I'll choose what I work on"
3. Select "Start" next to "Business Income and Expenses"
4. Select "Edit" next to your business name.
5. Scroll down to Business Expenses.
6. Now select "Start" next to "Business Vehicle Expense"

As you navigate through the interview process, there will be questions about the disposal of your business vehicle.