How do I handle a higher deduction taken (Section 179 and depreciation) that exceeded business basis of vehicle when sold in 2021?

[sjohnson4755]

Used 2008 Toyota Sequoia purchased in 2008 for $42,193. Used 74% bus. that year. Turbotax suggested 179 election of 31,894 in 2008.  Another $3550 depreciation calculated per Turbotax over the years. Bus use never fell below 63% but sold in 2021 (67% bus in 2021) and now I get error code. "Deduction ($35,444) exceeds business basis". Assume I treat as income but how??

[AmeliesUncle]

TurboTax is not set up to report the sale of an asset that has varied in business percentage from year to year (such as a vehicle).

In the vehicle section, you can say it was converted to personal use, then manually calculate things and enter those manually calculated numbers in the "Sale of Business Property" section.  Or go to a tax professional this year.

[sjohnson4755]

Thank you! That makes sense. I did not realize Turbotax could not handle the year to year variation in business percentage of use if a vehicle.