We purchased the truck for business in 2006 and had to dispose of it in 2020.
We used actual expenses and mileage each year when filing tax return.
Company is a sole proprietor and business use is about 96%.
We fully depreciated it using Section 179
How are lines 51 and 52 on the Car and Truck Expense Worksheet calculated?
Why is it showing up as a gain on schedule 1 line 4.
The truck quit working so no monies were received when disposing of this vehicle.
