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Deductions & credits
A total loss accident means you "sold" it for $0. TT is trying to determine if you need to do "depreciation recapture" (even if you used the standard mileage deduction rate).
You don't need to do depreciation recapture, since you got $0.
If you got an insurance payout, then that amount is what you "sold" it for.
‎January 21, 2023
8:06 AM