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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?
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?
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‎April 28, 2023
10:31 PM