And that amount was calculated and reported. But it appears that TurboTax is doing something else that is reducing the adjusted basis to $0, as any amount that is reported as the business portion of the sale, TurboTax is saying that amount is the gain (same issue as original post)
Sales Price (Business Portion Only): $2176 (vehicles used for business 14.5% of the total mileage)
Vehicle Total Cost (doesn't ask for Business Portion Only, so this is price paid): $17,977
Basis for gain/loss (enter 100% of basis): Blank, because it was not acquired via trading in listed property, and in the initial year, it was for personal use
Prior Depreciation Equivalent (used mileage based expensing): $1,335
Installment Sale: No
"Your gain is $2176"
Looking at Form 4797, it shows:
Line 19a: VehicleX Acquired 6/30/2016, sold 8/6/2022
Line 20: Gross Sales Price: $2,176 (this is the amount I entered as Business portion of the sale)
Line 21: Cost or other basis plus expense of sale: $895 (I did not enter this anywhere)
Line 22: Depreciation (or depletion) allowed or allowable: $895 (I did not enter this anywhere)
Line 23: Adjusted Basis. Subtract line 22 from line 21: $0
Line 24: Total gain. Subtract line 23 from line 20: $2176
So, how is TurboTax calculating lines 21 and 22?
