Conversion of Depreciating Assets to personal use

[jasdlm]

I am trying to do a return where, for the first time since I've been practicing, I am converting assets currently being depreciated to personal use. I used the disposition tab, chose the 'converting to personal use' option, and entered the original basis as the sales price (thinking that this would recapture the depreciation, which is all I think I have to do).

The depreciation recap is not flowing through to the 1040. I have tried to research the issue and am not coming up with much (read IRS pubs, etc.).

I asked the CPA downstairs who said he wasn't sure, but perhaps the depreciation shouldn't be recapped until the TP actually sells or disposes of the property. If that is the case, is the IRS going to question why next year there is no depreciation but no sale/recap has come through?

Thanks in advance for any advice.

[jklcpa]

If you're not e-filing, why not just attach a simple statement that assets have been taken out of service but haven't been disposed of.

[jasdlm]

Thanks for the suggestion. So, jkl, are you agreeing that the depreciation should not be recapped at this time?

Thanks.

[joanmcq]

I don't think recapture happens until you sell, unless its listed property that you 179'd.

[jklcpa]

Or there'd be some recapture on an auto if the business use % dropped below 50%.