Trying to determine Gain / Loss of car we sold in 2024 that was bought in 2023, and used for 3 purposes:
Uses / Purpose ’23-‘24 Miles
- Personal use 4,591
- Rental Property Management 1,517
- Self Employment 1,005
Car costs:
- Sticker / paid (2023) $51,025
- Sales Taxes/Fees paid $4,855
- Trade in value applied $12,500
- Sale price (2024) $27,600
Depreciation :
- Taken in 2023 $5,730
- Calc’d per mileage $723
How do I establish a Gain / Loss out of this?