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Business & farm
Here is a workaround.
Say that your retired your vehicle to personal use. Enter it in Sale of Business Property where you can enter your full amount of depreciation and report the sale. Your basis after depreciation should be zero.
1) Wages and Income
2) Other Business Situations
3) Sale of Business Property
4) Other Property Sales
5) Select Sales of Business or Rental Property that you haven't already reported
6)Choose No to the question, "Do all of the following apply to the property you sold?".
7)Choose Yes to the following screen that asks, "Do any of the following descriptions apply to the items you sold?".
8)Select the type of property from the drop down box.
9)Enter the information for your sale.
‎April 25, 2021
11:49 AM