gansu911
Returning Member

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?