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Get your taxes done using TurboTax
I have accounted for depreciation equivalent and entered it in turbotax, but turbotax is not using it. Some how they're assuming vehicle has been fully depreciated.
Business portion cost basis: $40,475
Business portion proceeds: $19,951
Mileage Depreciation equiv: $ 2,486
Loss -$18,038
Turbotax showing Gain of $19,951
Thank you for your help.
‎January 28, 2022
2:39 PM