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ar477alamo
Returning Member

sale of vehicle

Help with sale of vehicle.  Truck was purchased new in 2018, 100% use for business (traded in previous 100% business use truck).  2018 return shows $18,000.00 special depreciation, depreciation basis of $39,083.00.

2019 return shows $14,852.00 depreciation.  2020 return shows $8,911.00 depreciation.  In 2021, the truck was no longer needed for business.  It was traded in for a personal use vehicle.  Truck allowance was shown as $40,000.00 purchase of personal use vehicle.  

What sales price to I enter for price of truck traded, there were no expenses.  Also basis of gain/loss and basis for AMT gain/loss.  

Hope this is enough information to help me out.

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