In 2021, I purchased a vehicle for my business. The purchase price was 36,000. I took 11,000 section 179 on it in 2021. In 2022, I traded that vehicle in on another business vehicle whose purchase price was 44, 500. I received 35,200 for the one I traded. Turbo Tax is showing some sort of huge Gain on the sale of the 2021 vehicle and not allowing any Section 179 on the new vehicle. It only wants to allow me to take a Special Depreciation Allowance that creates a huge loss on my Schedule C. Help!
