Yes, I understand. It can be confusing, however the depreciation (you didn't use actual expenses but it could have happened) would be limited when you convert a property to business use when it was originally used only for personal purposes. When that happens you are required to use the lower of cost or fair market value (FMV) for any business use or expense.
You did use the standard mileage rate for your vehicle so it did not affect your tax return as far as depreciation expense.
At the time of sale - You use real numbers, actual cost not FMV to determine the actual amount of the gain or loss (business portion allows loss or gain/personal portion would require you to report gain, but a loss is not allowed.
In the case of a vehicle personal portion rarely results in a gain due to the rapid cost depreciation from the time it moved off the car lot.
@manbeing
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
