Sale of business assets

From: "Peter & Karen Diamond" <diamond@vsi.net>
Subject: Sale of business assets
Date: Sat, 1 May 1999 12:55:58 -0400

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Hello everyone,
I use my personal car for my business.  I have been using the standard
mileage rate for depreciation, and it has never been above 50% business use.
I am probably going to sell the car this year and I can't find any specific
information about how I treat this for tax purposes.
Will I have to report this is a depreciation recapture?   Is it a capital
gain/loss? Could there be a loss from this if the sale price of the car is
less that the accumulated depreciation?  Which IRS forms/pubs have more
information about this?
Thanks for any information.

Peter Diamond


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