Business use dropping below 50%
Recapture as income
Can You Write Off Business Use Dropping Below 50%?
Short answer: If a vehicle or other listed property falls to 50% or less business use, the Section 179 or bonus depreciation beyond straight-line is recaptured as income.
Keep a mileage log every year you own it.
Records to keep: Keep the receipt, proof of payment, and a note or log showing business use; for mixed-use items, track the business percentage.
Business use dropping below 50%
Recapture as income
General Business
If a vehicle or other listed property falls to 50% or less business use, the Section 179 or bonus depreciation beyond straight-line is recaptured as income.
Business justification
If a vehicle or other listed property falls to 50% or less business use, the Section 179 or bonus depreciation beyond straight-line is recaptured as income. Keep a mileage log every year you own it.
Category
- Business Equipment & Products