sale of business vehicle used part of the time
ok had a business used my truck used standard mileage rate
1. I paid 43000.00 for it
2. I used it in 2019 33.11% and line 19 got 672.00
3. 2020 used it 36.91% and got 2197.00
4.2021 used it 30.36% and got 1675.00
5.2022 used it 3.86% and got 195.00
6. 2023 used it 2.14% and got 102.00
7. 2024 did not use it for business changed it to 100% personnel use
In 2025 I traded in it for another vehicle the ford dealership gave me 35,000.00
for it. I did not put the new vehicle in my business as i shut it down it 2024
so not sure how to fill in the information on vehicle and in part v1 vehicle depreciation information
33 (a) total cost when acquired do I put in 43000.00
(b) fmv when placed in service 43000.00
(c)vehicle basis not sure what to put there?
34 enter the amount of section 179 expense elected didn't used a section 179
35 not a luxury car
I am really not sure how to recapture cost? I am really lost
any help would be greatly appreciated I'm getting more confused
thanks
