@oliviasb wrote:
Total Sales Price: Would be 9.56% x $2,000 = $191.20
You have a taxable gain of $191.
Based on your other information, the Basis of the business portion of your vehicle is $0, so the entire business portion of the sales price is taxable.
Unfortunately, the last I checked TurboTax is NOT set up to report the sale of an asset (including a vehicle) whose business percentage has varied from year to year. If you try to enter it in the vehicle section it gives an incorrect result, and if you enter the manually calculated numbers in the "Sale of Business Property" section it incorrectly does not affect some calculations for the business.
