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- BONUS DEPRECIATION IN 1065
BONUS DEPRECIATION IN 1065
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gk
Level 5
Wednesday
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Hi,
One of my client did tax with another CPA. CPA took bonus depreciation of his Benz Truck for TY 2023. Client sold the benz in 09/2024. Do i have to recapture the bonus depreciation in for 4797 ? Please advise
GK
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taxiowa
Level 9
Wednesday
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You do have to report sale and subtract off basis. But there is no recapture per se like 179 deduct or switching to less than 50% rules. But in that short time span you would have income from sale price less basis.
