I started using a vehicle for business in 2020 - I calculate the FMV at the time to be $15k. Since the vehicle is 65% business use, should the "Vehicle Total Cost" for sale calculation be $9,750? ($15k x 0.65)
There were no major improvements to the car or depreciation taken (used standard mileage deduction each year) - should the "Basis for gain/loss" also be $9,750?
I understand the depreciation equivalent calculation for the standard mileage deduction, but just need to get these cost inputs correct - Thanks
