Ok,
here are the numbers. The car's total miles when sold were 24,500. The total business miles over the entire ownership of the car from the time it was put into service in 6/2011 until it's sale were 18,500 (but of course there were no more business miles after 2013- in fact nothing was listed on any tax return about the car ever again). 18500/24500 = 75.5% total business use for the entire ownership of the car. the cost basis of the car was $13,176. Next is this calculation of $13176 * 75.5% = $9947.88, which is the adjusted basis of the car. The ending accumulated depreciation in 2013 was $7435 (and no more depreciation was taken on any future tax returns from 2014 on). Sales price of the car was $2950. Next is this calculation of $2950 * 75.5% = $2227.25. This amount is the business portion of the sales price of the car. The adjusted basis - ending accumulated depreciation calculation is $9947.88 - $7435 = $2512.88. The business portion of sales price was $2227.25. Is this a loss of $285.63?
