- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, the gain is $217. No special treatment because the gain is not larger then the depreciation portion, so regular or, in tax terms, ordinary income tax.
The total gain must be greater than the deduction expensed for depreciation.
Yes, your calculation is correct for the depreciation rate times the miles driven for business.
**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"
‎February 24, 2024
5:32 AM
420 Views