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 ...

Listed property is tangible assets used for both business and personal purposes. It's property such as vehicles and entertainment or recreation property. It requires careful record-keeping to qualify ...

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.