FMV $20,000 x 86.5% = $17,300
Depreciation $8761
Business Basis $17,300 - $8761 = $8539
Sale $15,500 x 86.5% = $13,408
$13,408 minus $8539 = $4868
Is that a LOSS? No. Go to the next step.
Purchase price $33,205.63 x 9% = $2989
Depreciation $8761
Business Basis = $0 (Basis can't go below zero)
Sale $15,500 x 9% = $1395
You have a $1395 taxable gain.
In the vehicle section, say you converted it to personal use, then report the sale using the manual calculations in the "Sale of Business Property" section.
