- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
Thanks again so much for your help. I am using TurboTax 2018 desktop version. I enter the data on the step by step screens for Business Income and Expenses (vehicle section)
1. I answer the prompts and get a standard mileage deduction for 2018.
2. Then it goes on to the vehicle disposition section:
3. I enter the sales price (business portion) $2287
4. Next screen, I enter vehicle total cost: $7388
5. Then I enter basis for gain $3650 (cost $7388 less accumulated depreciation $3738)
6. Then I enter Prior Depreciation Equivalent $3738 (from the standard mileage rates 2011-2018)
7. The program always says I have a GAIN of $2287
‎April 10, 2019
6:18 PM