Depreciation Recapture - Schedule C - Spidell

Depreciation Recapture – Schedule C

Log in to Post

Message Board Depreciation Recapture – Schedule C

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 2 months ago.

  • Author
  • #161207
    Elizabeth Precour

    Does the new 100% bonus depreciation on a schedule C vehicle have to be recaptured if the taxpayer ends the Schedule C in the next year or two?  The Schedule C activity has been very active for over 20 years and the taxpayers are finally looking to retire from it.  The vehicle exceeds 6,000 lbs.

    Would love to find something official and definitive!

  • #161485
    Lynn Freer

    No the bonus depreciation has no recapture – only Sec. 179. The basis of the car is adjusted and any gain reported at the sale of vehicle