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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.
‎February 5, 2021
5:25 PM