Deductions & credits

Okay, I guess with your odometer readings and assuming you started at 0 miles when you bought it, your average percentage is 23.35%.

 

So here is the second calculation:

 

Unadjusted Business Basis:  $32,000 x 23.35% = $7472

Minus Depreciation (Adjusted Business Basis): $7472-$6000 = $1472

Business Selling Price: $15,000 x 23.35% = $3503

 

That results in a business gain of $2031.

 

In your case, your taxable business gain is $2031.