Business & farm

Thanks! One final question if you don't mind.

 

After TT transferred data from the federal return to the state return (I'm in Massachusetts), I saw that the car values (from the Sale of Business Property section) were prefilled in the state table for capital gain/loss.

 

Cost = the purchase price minus the depreciation

Sales Price = the same as what I entered in federal

Gain/Loss = the above sales price minus the cost

 

Just confirming this is correct on the state return.