Hi - I am having difficulty with lines 51 and 52 on my 2023 return for Car and Truck Expenses Form. I never understood depreciation. I traded my car in Sept 2023 for $7000 for a newer used vehicle that I am going to take the standard mileage deduction for it because the mileage will be very low in 2024. For the sale price Turbo Tax came up with 19.22% which is $1345. Depreciation was always entered but, as I said, I don't understand it. In 2022 PRIOR was $6509, CURRENT was $566 if that helps at all. Any help for me?
Thank you very much for any suggestions.
