QB Issue Resolution:

The book value of the asset is zero.  Cost and depreciation are equal.  When you took section 179 accelerated depreciation you should have entered it on the books.  Journal entry, debit depreciation expense, credit accumulated depreciation-vehicle.

Your question about selling a section 179 vehicle is much more complicated.  Section 179 depreciation assumes a certain period for that type of fixed asset.  If you sell the asset before the end of that period then on the income tax form you have to re-capture the depreciation amount applicable to the time period you no longer have the asset – re-captured income is the result.  You do not get all of the expense you took that first year in other words.

On this issue you need to consult a tax accountant.

Resolution for Issue 'I am looking for the General Ledger entries to record the sale of vehicle that was fully depreciated under Schedule 179.' available: Yes (Solved).
Source: Intuit Community forum.

I am looking for the General Ledger entries to record the sale of vehicle that was fully depreciated under Schedule 179.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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