But this doesn't line up with the questions Turbotax asks. It asks for the FMV of the vehicle when put in service. Not the Fair market value mulitplied by biz use percentage.
I put a car in use in 2018 that had a FMV of $8,000. I used it 10% of the time for business.
I took some standard mileage deductions over the years and recaptures $592 of those when selling.
I sold for $4000
Turbo tax is telling me I can claim a loss of -$624 on my taxes for sale of business property.
That can't be right. Why would I get a deduction?
This program does the worst job of explaining and clarifying things!
