Discussion:Section 179 /Transfer of vehicle

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Discussion Forum Index --> Tax Questions --> Section 179 /Transfer of vehicle

Angelah (talk|edits) said:

1 August 2006
My husband and I are partners in an LLC. We purchased a vehicle in 2005 and took a 100% write off using section 179. We now would like to transfer the vehicle to another LLC we are partners in along with our daughter. Is it possible to do this without paying the 25% recapture tax on the vehicle?

WesR (talk|edits) said:

2 August 2006
Hi and I am sure you used your car 100% for business too. Also you probably couldnt write it all off under 179 either. Get an accountant and try not to oink too much. bye

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