thanks so much for those instructions. for each point, here's what i have or some followup questions... 0. you said to look on Kelly Bluebook's website for the Fair Market Value, but, that's not ...
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thanks so much for those instructions. for each point, here's what i have or some followup questions... 0. you said to look on Kelly Bluebook's website for the Fair Market Value, but, that's not working. it does find my car by VIN, but when it comes time to show its value, it says "Info Unavailable" - maybe because its so old? 1. total life miles: 231,954 2. total biz miles (just 10 for last year) divided by total miles (231,954) = 23,195.4 (is that right? how is that a percentage?) 3. you said to take the "original cost of the vehicle" but i don't know what that was back in 1993. - and is the "Business Cost" the same as the "Cost of Property"? 4. sale price ($100) x the biz % (i can't do that since i don't know the original cost). 5. you said to "calculate all the business miles by year" with the SMR for depreciation rate. - for "every" year since 1993 or since 2006 when i started using it for business? - how do i "calculate" that? for example, below you listed "2025: $.33". would i multiply that be the total business miles used for each year? - you gave a link to the IRS Pub 463 webpage for a chart, but i'm not finding any charts on that page that list the year & dollars/cents like you listed. - where would i enter all that for 'each' year? why wouldn't it just be for last year, the tax year i'm doing taxes for? 6. i don't understand, i put the sale price on the screen with the make/model, under 6,000 lbs, the date i started using for biz, & the date i sold it. you said to NOT indicate it was sold. how? by not putting the date of sale there? on the next screen is where i selected that i "started using as a personal vehicle 100% in 2025" (see screenshot from last post). 7. so all the info i need is for these 6 fields, then i have all but the last 2: - Description (1993 Honda Civic) - Date Acquired (1993, i don't remember the month & day) - Date Sold (7/10/2025) - Total Sales Price ($100) - Cost of Property (?) - Depreciation on Property (?) ...are there other fields that show up after filling in these? if not, then why find a chart showing the SMR amount for every year? there's only 1 field to enter that number. thanks again for the help!!!!!!! EDIT: added new screenshot of what i'm seeing. OH one more thing - when i go to the "Any Other Property Sales" page to select the "Sales of a biz prop" (the first option), the second option "Recapture" is always automatically checked. i tried UNchecking it, but it keeps returning. is that right?