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Selling car used partially for business--traded-in multiple times in previous years
I have a car used partially for business in previous years that I sold in 2020. Hasn't been used for business since 2015. I am retired now. In previous years, other cars used partially for business were traded in, finally resulting in this car I just sold. Each trade-in was recorded on a Form 8824. I used the standard mileage rate on business miles. How do I now record this sale of the car in Turbo Tax?? How do I calculate the adjusted basis? Depreciation? Business versus personal?
‎October 24, 2020
12:16 PM