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dep allowed/allowable too large. depreciation cannot exceed business basis
part time vehicle usage since 2017. traded in and the software won't allow me to file.
purchase 2017 $26000, immediately placed in part time business usage using standard mile deductions. traded in 11/2023 for $9500 (18.33% usage, $1741 business portion).
i've gone through depreciation per IRS schedule for mileage x depreciation for the last 7 years. Comes to be 4766. AMT allowed/allowable 840. Gain or loss 1741.
how do i fix the depreciation allowed error code so that i can file?
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‎April 9, 2024
8:02 AM