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gk77_2
Level 6
February 19, 2025
Question

BONUS DEPRECIATION IN 1065

  • February 19, 2025
  • 1 reply
  • 6 views

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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1 reply

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.

    G
    gk77_2Author
    Level 6
    February 22, 2025

    thank u

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