I had 169 business miles on a vehicle which had 199 total for 2020. I sold the vehicle and the program is not calculating the percentage business use at 85% and instead using 7.09%. Its throwing off all my gain / loss calculations. Please help
You'll need to sign in or create an account to connect with an expert.
Are you self-employed? W-2 employees cannot deduct these.
Total Miles = Business Miles + Commuting Miles + Personal Miles, so make sure you entered each of these correctly.
1) Look for the question that asks if you kept track of personal miles, and say YES.
2) If the vehicle was used for more than one tax year and the business percentage varied, you can NOT report the sale in the vehicle section. You need to MANUALLY do it in the "Sale of Business Property" section, using the average business percentage.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
magnetic430
New Member
tigr_ldy
Level 1
tacxsman
New Member
DoctorWho
Level 5
dantomas23
New Member