DianeW777
Expert Alumni

Business & farm

There is a taxable gain due to the excess depreciation over the cost and selling price and I do see it twice. It's important to select the vehicle was changed to personal use without making any entries in the vehicle itself about the sale. Review the entries so that the sale is entered only once under Sale of Business Property as outlined above.

 

Only you should be entering cost, depreciation and sales price in the  Sale of Business Property Section. You may have duplicated it by mistake. You will enter the date you stopped using it and you will select you converted it 100% personal use. 

  • In the rental activity be sure to select your vehicle was converted to personal use.

Update here if you have additional questions.

@hieye5 

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