Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Join us today for Day 2 of the virtual tax conference packed with vital insights to thrive in the 2024 tax season. Click here to register.
Join us today for Day 2 of the virtual tax conference packed with vital insights to thrive in the 2024 tax season. Click here to register.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Depreciation under the 2017 TCJA
Depreciation under the 2017 TCJA
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Ed G
Level 1
02-11-2020
02:16 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Under the new tax law luxury vehicles >6,000 lbs can be depreciated 100% in the first year. If the vehicle is not used in business in subsequent years but also is not sold is there any recapture of depreciation?
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
1 Comment 1
Ed G
Level 1
02-15-2020
12:40 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Since the vehicle is a business asset the depreciation will be recaptured when it is sold (the difference between its cost, possibly zero, and the selling price). The gain will be taxed at ordinary rates.
