I'm completely confused. I am a 1099 self employed Realtor. In 2020 I traded a 2011 vehicle with a $12,350 trade in value for a 2020 vehicle with a sales price of approximately $30,000. Original cost of the 2011 was $34,111 after a $5000 trade in credit. How do I compute Sales Price (business portion only), Vehicle Total Cost, Basis for Gain/Loss, Basis for AMT gain loss, Prior Depreciation Equivalent, and AMT prior depreciation equivalent? Thank you for any help.
