I bought a 2012 Toyota Prius in 2012 for personal use. I started to use it for business on 1/1/2016 and then donated it to a non profit organization on 12/27/2016. The market value of the car at the time of donation is about 12K according to KBB. I bought it for 24K. Turbo Tax shows a loss of 12K on form 4797. Is that correct? Can I also deduct it in the "Donations to charity in 2016" section of the deductions & credit? Thank you for your help. Thank you.
