Investors & landlords

We can make sense of this.  First, yes you should use the worksheet and change line 33a to the actual cost of the vehicle when purchased. 

• Side note: The correct result can also be accomplished by entering the difference as sales expense when asked for that amount.  This would eliminate direct entry change on the worksheet.

Depreciation deduction for the current year would be zero unless the vehicle was used for business in 2021. See the following information.

Next, if you used the standard mileage rate for the business miles on the vehicle then depreciation does exist.  The chart attached below will allow you to determine the depreciation portion of the standard mileage rate for all business miles.  Once calculated, you can enter the prior (and current amount if the vehicle was used in 2021) total depreciation claimed on the vehicle. The formula you used was unclear.