Calc'n error in Car Wrksheet, + Sources? 5/1 on

Forum|Forum|2 months ago
May 1, 2026
1 reply
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TT's Car & Truck Worksheet calculates incorrectly the Business Portion of the Selling Price of my car. Line 6 divided by Line 5 is 122 miles, divided by 2100 for the year, or 5.80952% -- not the "3.39%" figure which TT calculates.

What is the source of that error, which is so plainly visible?

Why can't I trace back to the Source of your figures, as they flow from form to form, as I used to be able to do, in years past? This is my first year using Premier; can it be less capable than the Deluxe versions I've always used previously, for over 20 years?

Similarly, at Line 37, what is the source of the figure for Prior Depreciation?

Also, I have two Car & Truck Worksheets, one each, under Schedules C and E. However, on the Capital Gains form, that one car and its selling price appear twice, doubling my "profit." Can that be correct?

Business Expenses

AmeliesUncle

Level 15

@oldKnhand wrote:
Line 6 divided by Line 5 is 122 miles, divided by 2100 for the year, or 5.80952% -- not the "3.39%" figure which TT calculates.

Go back through the questions and look for the one that asks if you kept track of personal miles. Say YES.

TurboTax is NOT set up for reporting the sale of a vehicle (or other asset) that has varied in business percentage from year to year. As you said, it is basing it on the current year percentage, but it needs to be based on the lifetime percentage (with some additional complexities involved).

For the prior depreciation, if you used the Standard Mileage Rate, I don't think the Prior Depreciation that shows up is accurate at all. I am pretty sure you need to manually calculate it. If you always used the Actual Expenses, hypothetically the Prior Depreciation is actually the cumulative depreciation that you took in prior years.

As you said, if the same vehicle is on two different Schedules, you would only report it one with all information on one, or prorate the purchase price and sales price between them. But as I said before, TurboTax is not set up to report the sale of vehicle that has varied in business percentage from year to year.