My husband has done a self-proprietor business since 1987 and we've had a vehicle for that use with records of mileage but sadly we used the depreciation methods. Our last vehicle was put into use in 2011 at $19721. Throughout the years of business and personal use $13017 was depreciated. Leaving an adjusted basis of $6704. We haven't used in the vehicle for more than 50% business use in several years, just a few 100 miles as business slowed. In September 2024 we sold the truck for $4500. At this point I do not recall which depreciation method we used in 2011 and beyond, I just let Turbo Tax figure it out and it hasn't been giving us depreciation for a few years (less than 50% use for those year.) We never carried an inventory since it was a carpentry business and what he bought he made cabinets and installed them. But he was occasionally making some income so I kept the Schedule C going. I am considering it as a closed business, we did not sell it. But how do I deal with the truck sale? I said this year that we converted it to 100%personal use. And then we sold it for a good price because it had less than 80,000 miles on it. I am trying to figure out how to the Form 4797 page 2 enterable form for this. There doesn't seem to be anywhere to enter the sale price, for example.
