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Get your taxes done using TurboTax
The depreciation is part of the basis and needed to calculate the amount of gain or loss. Clearing that, will increase your basis.
$17 would be for any business use in 2024 before the vehicle was totaled. If you did not use the vehicle in 2024, change the date to 01/01/2024 for disposal of the vehicle to eliminate the depreciation.
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‎February 7, 2025
3:54 PM