My Xbas is too high. This is my first time I am claiming Self Employment but I have been using my vehicle since 2017 for my work. I own the Vehicle. How do I fix this?

[jmartinez094]

I have no prior claims on my vehicle and I entered all the info from my papers that I have.  My vehicle was bought used.  It says enter excess basis but Idk what that means.  I've check all the boxes and the info is correct for all the boxes.  I don't know how to fix this or what to enter.

[Critter-3]

If you have a used vehicle then only use the standard mileage section and skip the actual expenses section all together.  The standard mileage rate is usually much better and if you start with standard you can switch to actual in a later year.  

[Opus 17]

When you place a vehicle in business for the first time (and this is probably the first time, since you could not have claimed it for a regular job since 2018) your basis is the purchase price, or the fair market value at the time it is placed in service, whichever is lower.  

That doesn't help explain where the error is coming from, and I can't see all your entries so I can't trouble-shoot from here.  But @Critter-3 is right, for a used vehicle you are probably much better off using the standard mileage method, and that should not require providing a basis at all.  

I suppose it's possible that if you placed the vehicle in service for your W-2 work in 2017 using a non-standard expense method, you might not be allowed to use the standard mileage rate now, but we would need more information to help you now.