Im a Realtor, and this is my first time filing business taxes and the Gain Loos basis screen has me totally confused! I traded my 2015 Chevy for a new 2023 Nissan in Oct of 2022. They gave me 20K on the trade-in towards the 52K nissan. I used my Chevy and now new Nissan for about 66% for business with an original purchase price for the Chevy of 36K back in 2015. Can someone tell me what in the world I enter for "Basis for gain/ loss" and "Basis for AMT gain/loss" fields. I am using the standard deduction method. This is so confusing!
