cifizzari
New Member

Why is Turbo Tax calculating my capital gains on the sales of a business van as the sale price $46,000. I calculate it as $11990.

My figures
Sale price                     46,000
Purchase price             41,000
Profit                               5,000
Depreciation 2021       6,600
Depreciation 2022           390
I would calculate Capital Gains 5,000 + 6,600 + 390= $11,990
Turbo Tax calculation $46,000
Is my calculation of the Capital Gains correct?