Let's review your questions.
- Cost basis is $1,872 ($13,000 x .144) - Use actual cost when you sell or trade, times business percentage for life of vehicle, not the FMV used for depreciation
- The depreciation and AMT depreciation is $7,814. AMT would be different if you had used an accelerated rate of depreciation, you did not. The standard mileage rate (SMR) is not an accelerated rate.
- I do not see the same message 'However, the total amount you enter cannot exceed the depreciable basis of the vehicle.' You must enter the $7,814 because this is the actual expense you were able to use to reduce income and it's SMR, not based on the cost of your vehicle.
- Answer 'Yes' it was converted to nonbusiness use because you no longer own it and you are reporting the sale under Sale of Business Assets.
Search > schedule c > Click the Jump to... link ang then select your vehicle, then edit to make any necessary changes
Please update if you have more questions.
@bobalbertfamily
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