Converting a business truck to personal use after retirement triggers depreciation recapture, creating taxable self-employment income even without selling the vehicle or earning new cash. Social ...

The Tax Court held that a taxpayer had to recapture the majority of his prior-year section 179 deduction since he failed to show that the business use of his GMC Suburban remained above 50% in the ...

Depreciation recapture is the process by which the IRS reclaims tax benefits previously obtained through depreciation when an investor sells a depreciable asset for more than its depreciated value.

A self-employed contractor buys a heavy-duty pickup near the end of his career, uses it almost entirely for jobs and takes a large upfront write-off. Then he retires at 63, files for Social Security ...