Anonymous
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Deductions & credits
enter the full sales price and then check the gain
say original cost $25,000 business depreciation was $13000.
your business basis is $25,000* 80% = or $20,000 less business depreciation of $13,000 net business basis $7,000
80% of $7,000 sales price $5,600 allocated to business so loss of $1,400
20% personal = $1400
personal portion $5,000 less depreciation computed based on IRS tables for persona mileage gives you net value personal portion if net value greater than $1400 the loss is not deductible
what's bass is that TT probably can't handle this
‎June 3, 2019
4:58 PM