- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Basis for gain/loss is on your 2021 tax return. It is the basis at the end of the year that was remaining on the car. TurboTax seems to have moved the $7000 figure over from last year. So, you just need to adjust it by subtracting the expenses deducted for last year and whatever expenses or mileage deduction you have for this year as well.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 12, 2023
9:48 AM
772 Views