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Vehicle sale
I bought a used car for $8,000 in 2012 and used it for personal & self-employed business. I took mileage deductions but no depreciation - unless TurboTax automatically depreciates through mileage. I sold it for $1700 in 2019. How do I handle the sale now when TurboTax wants to know about basis for gain/loss and depreciation equivalent? If I leave everything blank it says the $1700 sale price is taxable income.
‎January 6, 2020
8:25 AM