Need more help, please! I followed the interviews and believe I've done something very wrong! My total prior depreciation taken on the truck (since 2008 on one property and 2010 on the other) is $1,996. TT has calculated that the Ordinary Income Recapture is $437 for the first property and $393 on the 2nd?????
The truck was 27 years old when sold - all I can figure out is that by subtracting the business miles from the ending mileage does not account for the fact that when placed in service (Property A) the vehicle had 40,335 miles of personal use already. That calculation would result in 15,451 miles driven since 2008. I drove
the vehicle 4,750 business miles for Property A and 4,504 for property B. Respectively, that would give me a business use of 29.15% on Property A rather than the 7.3% business use based on ending mileage not adjusted for the 40,335 personal use prior to placed in service.
Hopefully, you will be able to clarify what I'm doing wrong here! Very much appreciate any guidance!
If I subject my
