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gk77_2
Level 6
February 19, 2025
Question

BONUS DEPRECIATION IN 1065

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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5 replies

taxiowa
taxiowa
Level 8
February 19, 2025

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.

    gk77_2Author
    Level 6
    February 22, 2025

    thank u

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