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Level 1
April 10, 2026
Question

what is vehicle basis

  • April 10, 2026
  • 1 reply
  • 7 views
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1 reply

LindaS5247
Level 14
April 12, 2026

In TurboTax, your vehicle basis is the original cost of your vehicle (your purchase price plus sales tax, title, and registration fees) used to calculate depreciation and potential gains/losses when used for business. It shows your investment in your vehicle. If you used your vehicle for personal reasons, the basis has to be adjusted by your business use percentage.

 

In TurboTax, you can go to Business Expenses > Vehicle Expenses > Edit to enter or update your information.

 

See Also:

Business Use of Vehicles

 

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