I had a 2014 car which I put into service in 2017 when I started as an indep contractor, always taking the mileage deduction. In 2024 I gave the car to a family member and I purchased a new one. I do know the FMV of the car last year and of course, the initial purchase price. I entered the info the way I understood the directions and ended up with a credit of the difference between purchase price and FMV at time of the gifting. I'm not used to being surprised with a nice credit. Please let me know how I should enter that info and does depreciation recapture apply to this transaction? Thank you
