Business & farm

Thank you to everyone who replied, and particularly AmyC & DianneW777 for helping me understand what is going on, and how to handle the sale of the depreciated car used 25% of the time in my rental activity. (see a few comments above this one.) I filed the taxes Saturday. The tax return ended up showing a $100 gain, split as $90 gain (on line 6 of form 4797), and $10 gain (on line 4 of Schedule 1) - I'm not sure why it was apportioned like that, but the $100 gain is accounted for.

 

After being explained what my gain was supposed to be (25% of $400 selling price = 100) I ended up manually putting hat value in the Sale Price form as seen in he 2nd screen shot below using TurboTax Online:

 

BTW I got to that from by making the selection NONE OF THESE APPLY as shown in the image immediately below:

Screenshot 2024-02-23 at 14-40-04 TurboTax Premium 2023.png

Screenshot 2024-02-23 at 14-40-23 TurboTax Premium 2023.png