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