When a business vehicle business use fluctuates, TurboTax cannot compute the capital gain on the sale.
What was the basis you reported when you entered the vehicle?
It is assumed the vehicle was fully depreciated if it was used for 18 years, so how do you/TurboTax come up with 7457 depreciation allowed? Did the business use ever drop to under 50%?
Do you have the asset depreciation worksheet (it should be included with your documents)?
The 8,000 trade in would be considered 4,000 business sale if this was used 50%
You say 23,669 LOSS, so why would the program expect Self-Employment tax on a loss?
Which TurboTax program are you using and Online or Desktop?
Basically, when a business vehicle is sold, you need to figure the adjusted basis.
The adjusted basis is the basis you reported when you entered the asset less the deprecation taken (or should have been taken)
If you are showing nonrecaptured net section 1231 losses, that says to me that the program is showing a loss on the "4,000" sale, but if it was fully depreciated over 18 years, I don't see how that is possible. (and I don't see how it is possible that the business portion was not fully depreciated after 18 years of use)
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