Bought a truck for work in 2004 for $15,000 - have been using it 100% for business with standard mileage deduction the whole time. Sold it in 2019 for $1,500. When prompted to enter the past depreciation according to the table, the amount is greater than the purchase price so I entered the purchase price because it says not to go over. So...now the $15,000 is showing as income, the $1,500 as capital gain, and I have a pretty large tax liability. Is this correct?
