Having some difficulty completing the business income and expense section for the trade transaction of the 2020 Tesla Y. I traded the vehicle for a new one 12/23/2023 and took delivery of the new on which I also used to the personal business. So I've checked th "stopped using the Tesla for business on 12/23/2023" On the sales price I've indicated a trade in value (92.43% business use actual trade credit). Turbo tax entered the basis for gain or loss at (based on 2022 depreciation allowed) resulting in a $14181 trade gain considered taxable income.
I just want to make sure I followed proper procedures because previous years you would enter the trade in value when you entered the new vehicle numbers.
Also when entering the information on the new Tesla there was no question asking if I would like to take a Section 179 special depreciation.
