The title was in my name, the loan that was used to purchase the vehicle was in my name also. The loan had to be paid off prior to selling the vehicle after being depreciated for the business use for 4.5 years.
Do I have a gain of the difference between the amount depreciated for the final months of 2023 and the amount of total depreciation taken for the 2023 tax year which was 2 months? I am totally confused!
