When you use the standard mileage, part of the per mile rate is for depreciation. For example, in2020 the mileage rate was $0.575 with $0.270 for depreciation. You have to go back each year to find how many miles you used, then multiply it by the depreciation amount for the years you used the car. This amount is added to your basis to determine if you have to pay any tax when you sell the car. When you convert from business use to personal use, it is considered a disposition and you use the fair market value on the day you stop using the car to determine if you have gain. Any depreciation you took may be "recaptured" and added as income. If you can find your depreciation amount, go back through the TurboTax interview and it will tell you if you need to report.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
