Thank you. First in the vehicle you traded you need to select 'No' it wasn't traded. Once you remove that checkbox you will reach the screen to check the boxes indicated:
- You started using it as a personal vehicle 100% of the time at any point in 2024.
- Your percentage of business use of the vehicle varied over the years
- Next screen - Did you convert this asset to nonbusiness use? - Yes > Continue
Gather the depreciation for all years on vehicle traded.
- Switch to Forms to get your total depreciation used all years on the vehicle traded. Find the 'Car & Truck Wks (vehicle traded)' to write down the prior depreciation (this is the business portion only). You can also use the 'Depr Report (page 1)' which will show the same amount.
- Switch back to Step by Step
- Start to enter the Sale of Business Property. Go back to the instructions above to enter the sale of the vehicle.
- Selling price x business use percentage
- Sales expenses x business use percentage
- Cost x business use percentage
- Depreciation from Forms
@MandiBee
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