How do i figure out the xbas

[mlindberg05]

It keeps telling me my xbas is too high (the number in the review box is the total amount we paid for the vehicle) I'm not sure where to correct this error... If I change the number in that box on the review, then go back to my vehicle worksheets the new number entered is what is sitting in the total amount paid for the vehicle. Please help!

I didn't have this issue last year and it's the same information...

[JerryA]

This answer might be helpful for you.

This means that the Depreciation Allowed, which includes all prior years depreciation, is larger than the business basis of the vehicle.  This is sometimes caused because the prior depreciation is incorrect.

Compare your business basis, if your vehicle originally cost $20K and is used 50% for business the business basis is $10K, to the Depreciation Allowed/Allowable.  

This sometimes happens if no prior depreciation was transferred from your prior year’s input.  Pay particular attention to the Sec 179 Depreciation screen, if there is an entry here, it could be entered as the prior depreciation causing an error.

Revisit your current return’s asset entries; ensure that the prior year’s depreciation is correct and less than the business basis of the asset.  You can see the prior depreciation on the Prior Depreciation screen in the program

Answered by TurboTaxJamieR to this question