jlew1229
Level 3
03-23-2021
02:15 PM
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Truck that is listed property on an S-corporation return converted to personal use. If Section 179 was taken, does the S-corporation need to sell it to the shareholder for FMV and handle it like any other sale of asset. or because business use fell below 50% I just have to calculate recapture of depreciation over straight line.
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