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MMG62
New Member

Sale of Business Property (Vehicle)

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

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1 Reply
MMG62
New Member

Sale of Business Property (Vehicle)

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

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