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Business & farm
No,
Line 51 is the depreciation that was taken (or could have been taken) on the vehicle before it was sold.
If in 2022 the prior year depreciation was 6,509 and current 2022 depreciation was 566 then at the end of 2022, there was 7,075 depreciation taken.
If you used the vehicle in 2023, I ASSUME the depreciation was 341 so line 51 would show 7,416.
Line 52 concerns Alternative Minimum Tax.
TurboTax cannot compute the gain or loss on a business vehicle if its use varied over the years.
The new vehicle has nothing to do with selling the old one and vice-versa.
We are just talking about the old vehicle which you sold.
To clarify,
What did you use as the vehicle basis? (Purchase price?) What was the dollar amount?
Look at Disposition Report Column e
Did you use Actual Costs or Standard Mileage (or both)
Is the program showing a gain or loss on the sale?
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