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I'm a full time rideshare driver, I financed a used 2019 Chevy on 7/11/2023 with 31k miles and put in service on 7/12/2023. I claimed standard mileage on my 2023 & 2024 taxes. 5/30/2025 with 105k miles the Chevy was caught in high water during a monsoon of a rain storm and insurance deemed it a total loss.   The sticker price was $21,434 but total financed amount was $30,278. Personal auto insurance paid $11,423 ACV directly to the finance company and GAP Insurance paid the balance of $9,566 on the loan directly to the finance company.   I have not replaced the vehicle yet, rather renting week to week from a company that rents for rideshare workers. I'm confused on how to proceed with filing as the only options I have to choose from are :    - Started using as personal vehicle 100% of time - Percentage of business use varied over the years - Gave it away as a gift  - None of theses   I don't know how to determine sale price when all the money paid by insurance went directly to the finance company and the vehicle went to a salvage auction when the insurance company took possession of it.   Total mileage use of vehicle for business purposes was 94% over the three tax years - 2023 92.5% - 2024 90% - 2025 93.5%

I paid the annual $800 LLC tax on time, back in 2025. But on my Turbotax CA form 568, it shows I paid the $800 but then says I overpaid $800 and am due a refund of $800, which doesn't make sense as I'm not due a refund.    Line 8, 12, 14, 17, 19 show $800   What seems to be missing is line 3 and 7 show "0" when I think it should show $800, which would then show that I owed $800, I paid $800 and thus no further tax should be due, and no refund needed. Any ideas how to fix this?    

I would really appreciate guidance from some of the K-1 experts here: In 2025 I sold my entire interest in a partnership that invested in real estate. I'm unclear on how to compute the tax basis for my interest based on the info on the final K-1.  I actually received 53,946 for the sale of my partnership interest.  The K-1 reports the following as my capital account info for 2025: Beginning capital account: -63,279 Current year net income (loss): -7,464 Other increase (decrease): 70,743   [the explanation for this amount is the sale of my interest, even though I actually received 53,946]  Ending capital account: 0   Is my tax basis the capital account balance immediately before the sale of my interest, i.e. -63,279 - 7,464 = -70743? So my gain on the sale of the interest is 53,946 - (-70743) = 124,689??  What am I missing?   Please also note that my share of the partnership's nonrecourse and qualified nonrecourse financing totaled 206,448 immediately prior to the sale of my interest. This matches a "distribution" of 206,448 reported in box 19D of the K-1, which I expect just offsets the basis I had due to my share of the partnership's liabilities -- in other words, it doesn't affect my basis for tax purposes.   I would appreciate any help or guidance!  Thank you

I sold a rental property in 2025. I meet the 2/5 year rule for having lived in it as a primary home, so we'll owe no capital gains tax. But, we took depreciation for 3 years, and that should be recaptured at sale. I downloaded the draft tax return doc before filing, and I don't see that captured anywhere.