Using the words:
- "show loss on auto for depreciation" I will assume that you want to enter the vehicle and depreciate it on form 4562. You can:
- return to the business section
- scroll down to Business Expenses.
- Locate Business vehicle expense and start/ edit/ update
- your basis will depend on when purchased and if converted to business use. The program will walk you through it.
- "business, auto depreciation , sale 4797", I am going to assume you have sold an asset (car) in your business. You should:
- Return to the business,
- go to business vehicle,
- edit the auto
- mark that it was sold and the amount. The checkbox is at the bottom of Tell us about your business vehicle.
- You will want to verify the basis is correct after depreciation.
Either way, you need the correct basis for the vehicle. See:
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