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Get your taxes done using TurboTax
Since you have used your Business Vehicle for over five years, it is fully Depreciated.
Enter $0 for Sales Price.
TurboTax will ask the FMV of the vehicle when you first started using it for Business, then ask Basis for Gain/Loss and AMT Gain/Loss, which you can leave blank.
If you used Standard Mileage, TurboTax asks Depreciation Equivalent, where you can enter the FMV you entered earlier.
You will have no Gain or Loss to report.
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March 10, 2020
12:37 PM