Mixed Use Vehicle Distrib on Termination - Spidell

Mixed Use Vehicle Distrib on Termination

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Message Board Mixed Use Vehicle Distrib on Termination

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      Anonymous
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      Client distributes a vehicle that is part personal use part business use from a C corporation on termination – say 50% biz use. Cost is $50,000, Accum depreciation is $20,000.  FMV is $15,000.

      Is the sale price $15k or $7,500? Is the cost/basis (not including deprec) $50k or $25k?

       

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