ColeenD3
Expert Alumni

Deductions & credits

Yes, your insurance reimbursement is the amount to use for sales price. However, the sale price page tells you to multiply the amount times business use percent. (5%)

 

On the page that asks: "Let's get the info on your gain or loss basis" the Learn More blue box tells you the basis is the purchase price minus depreciation, so it is $21,600 not including any depreciation you might have taken in 2019 using the actual method.