Thanks for clarifying. I'm surprised it would include the taxes and fees, since those vary by location within the state (CA). I think it's confusing on TurboTax because the question in bold at the top of the page says "original purchase price" but then next to the box where you enter the amount it says "fair market value" which I've always understood to mean the base price before taxes/fees. I assume I would not include the interest on the loan but just the loan amount, right?
With the old vehicle, I drove it for a couple years before using it for business, so should I put in the amount it was probably worth when I did that (instead of the amount I originally paid)? I'm not sure how I would determine that amount since it was a couple years after I bought it and it was a fairly old car.
