bhwagcpa
Level 1

An S Corp with 2 vehicles purchased in 2018 will likely dissolve in 2020.  1 Vehicle took 100% Bonus Depreciation and the other took accelerated Bonus Depreciation .  Should the bonus depreciation be recaptured as ordinary income on 4797 on the final return, or could the net book value of the assets be distributed as income to the shareholders in the dissolution?

Thank you!

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