@daveboyer Your 'Cost of your Business Vehicle' is the FMV when you started using it for Business.
You don't need to enter the value of the vehicle you traded in for this vehicle, unless it was also used for Business, and you were claiming Standard Mileage for it.
If this this the case, then your 'new' Business Vehicle would have a Cost Basis of $12,000, which was fully depreciated with your Depreciation Equivalent of $31,000. Make sure this Depreciation Equivalent is correct. It sounds too high if you only used your Business Vehicle 24% of the time. You can only enter an amount of Depreciation not greater than the Cost Basis, which indicates that the vehicle was fully depreciated.
This then reports it as a 'Sale of Business Property'. TurboTax will do this automatically for you. You can Delete the Sale of Business Property in your return and go back to your Business and re-enter the Sale/Disposition info.
You should have a Sales of Business Property gain of $500, which is what you received for your fully-depreciated Business Vehicle.
Click this link for more info on Sale/Disposition of Business Vehicle.
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