If your vehicle was reported on business from in prior years and you are disposing it from business to personal use bue to business closure you should use your UCC at the beginning of the year as proceeds of disposition. This will have no loss/no gain outcome and your past year deductions for business use will be fully honored.
If your vehicle was reported on business from in prior years and you are disposing it from business to personal use bue to business closure you should use your UCC at the beginning of the year as proceeds of disposition. This will have no loss/no gain outcome and your past year deductions for business use will be fully honored.
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