Discussion:Section 179 & transfer

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Discussion Forum Index --> Tax Questions --> Section 179 & transfer

Dennis9987 (talk|edits) said:

30 August 2006
Hi, does anyone know if the transfer of a business auto on which code sec 179 deduction was taken, into a taxpayers controlled S corp triggers a sec 179 recapture?

Thanks, Dennis G.

JR1 (talk|edits) said:

August 30, 2006
It does not as long as it's still be used for biz.

Sandysea (talk|edits) said:

30 August 2006
No recapture as JR says. The recapture could come into play if he uses it partly for personal use.

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