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How to determine Prior Depreciation for the sale of a Business Vehicle
I traded in a vehicle that was purchased in 2018 for a new vehicle that was fully depreciated . When reporting the sale it asks for the amount of the special depreciation allowance that was taken but it also asks for prior depreciation. Do I enter the amount of the depreciation that was taken over the prior 3 years as Prior Depreciation or do I enter $0?
March 2, 2025
7:48 AM