SelFer913
New Member

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?