The Cost Basis of your Business Vehicle is the FMV when it was 'placed in service' x 'Business Use %' - Depreciation Claimed.
For example, if the vehicle was valued at $5,000 when you started using it for business, and you used it 50% for Business, the Business Cost Basis at that time was $2,500.
Figure the depreciation taken if you claimed the Standard Mileage Deduction for your vehicle each year using the chart below.
If you claimed Actual Expenses each year, TurboTax will tell you what the depreciation amount is.
Your Sales Price is $0, since the car was totalled.
Click this link for more info on Disposition of a Business Vehicle.
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