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Self employed
At the screen Do any of these apply to the 2015 Corolla, you would have selected Your percentage of business use of the vehicle varied over the years?
The sales price should be $12,000 X 57.04% equals $6,845.
The vehicle cost would include taxes and preparation fees.
Basis for gain/loss (100% of basis) would be $15,023 less $4,508 equals $10,515.
Basis for AMT gain/loss would be the same unless your tax return includes a Form 4562 Alternative Minimum Tax Depreciation Report which reports a different depreciation amount from the Form 4562 Depreciation and Amortization Report.
Prior depreciation equivalent would be $401.49 + $624.52 equals $1,026.01.
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‎April 11, 2023
6:34 AM
2,425 Views