I've been reading a lot of other posts and turb tax responses -- thought I was getting somewhere with understanding, and have hit a wall.
Please help. I bought the car from the dealership in October 2016 with only roughly 2k miles on it, and the total miles on the date of sale 11/16/25 was 137,302.
In late 2023 I started a yoga business as a sole proprietor. On my 2023 taxes I listed my 2015 Honda Accord Coupe as the vehicle I used occasionally for business, but is mainly for personal use.
2023 - Claimed 357 business miles
2024 - Claimed 6,813 business miles
2025 - Claiming 5,765 business miles
= 12,935 business miles for all years / 137,302 total miles for all years = 9.56% overall business use percentage for life of the vehicle. Correct?
I sold the vehicle to a private buyer for $2,000 on 11/16/25
Per other question responses, my understanding is that I need to select "Sold, disposed of etc." but then mark the box that says "Converted to 100% personal use". Then shift over to Other Business Situations tab to report the sale. I've done that... but am completely lost and confused at what comes next.
When I get to the page of Other Business Situations, it says:
Enter the following information for this property sale. If you used the property partly for personal purposes, be sure to compute the amounts of your sales and the property's cost that relate to the business portion only.
Description: 2015 Honda Accord Coupe
Date Acquired: 10/15/2016
Date Sold: 11/16/2025
Total Sales Price: Would be 9.56% x $2,000 = $191.20
Cost of Property (or Tax Basis) Plus Expenses Sale: ????
Depreciation Taken on This Property: ????
I have no idea how to figure the info for the last two boxes. 😕 Do I need to know the original purchase price of my car in 2016??
Thanks in advance 🙂
