I have the mileage for each year so I can calculate that amount. Is this number also based on the percentage of time the vehicle was used for work?
The calculation is cents X business miles so the percentage of business miles / total vehicle miles is not a part of the calculation.
Regarding the AMT, if we didn't use it in 2022, then I leave the AMT depreciation blank?
Directions in Learn more state to enter the computation in both boxes. AMT calculations will take place in the background and you will likely not be affected by the calculations. Alternate minimum tax is reported on Schedule 2 Additional Taxes Part I line 1.
Also, going back to the previous screen, how am I determining the gain/loss basis?
Click on gain or loss basis at the screen Let's get the info on your gain or loss basis for the explanation of the basis calculation.
The calculation is original purchase price plus cost of major improvements less depreciation allowed or allowable.
@MMF74
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