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Get your taxes done using TurboTax
I am in the same situation. I purchased the vehicle for 17,100 in 2018 old it for $12,300 in 2021.
The depreciation deduction equivalent was approximately 2400 and the total mileage deduction claimed was only $4900 over those 3 years. Business and personal use was 50/50. TurboTax is claiming the whole $12,300 is a capital gain I owe tax on?
‎February 6, 2022
5:19 PM