Sale of Business Property (Vehicle)

[MMG62]

I calculate 

Unadjusted Business Basis:  $24580 x 19.13% = $4702
Minus Depreciation (Adjusted Business Basis): $4702-$4829 = $-127
Business Selling Price: $9,000 x 19.13% = $1722
That results in a business gain of $1850

Turbo tax is saying that Depr allowed or allowable is too large. For disposition calculations, depreciation cannot exceed business basis. Please see tax help for this field.

I actually calculated from 2013 through 2023 depr. from my tax files and its correct $4829.

for Percentage of buisness used I calculated by miles that comes out  to 18% but avarage %age of all years comes out to be 19.13%.

What should I do. or where I make mistake.

Please help.

Thanks

[MMG62]

It says its AMT Depreciation allowed/Allowable is too large.

[AmeliesUncle]

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@MMG62 wrote:

Minus Depreciation (Adjusted Business Basis): $4702-$4829 = $-127

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Basis can't go below zero.  Only enter $4702 of depreciation.

You can't report it in the vehicle section.  In the vehicle section say it was converted it personal use then report your manually calculated numbers in the "Sale of Business Property" section.

[MMG62]

I did accordingly but it now give errors in form 4797 line 22 that line 22 should be less than or equal to cost or other basis plus expenses of sale.

I plug number same as $4702 based on sale price still same error.

What should I do?

[PatriciaV]

Check your entries on Form 4797:
Line 20: Selling Price

Line 21: Cost/Basis

Line 22: Depreciation (same as cost/basis)

Line 23: Should be zero

Line 24: Gain should be equal to selling price