3562801
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To clarify, are you reporting a sale of a business vehicle?
If yes, was it also used for personal use and did the percentage of personal/business use fluctuate over the years?
Yes we sold a car last year, but the percentage of use did not fluctuate. It was used 50% for business and 50% personal. I'm just now sure how to adjust to fix the error. Right now my depreciation is $2240
Have you ever had to deal with Alternative Minimum Tax (AMT)?
If you did, you would know it.
Most people are not subject to AMT, so please enter the same amount of depreciation for regular tax and AMT.
Thanks Kris! When I put the $2240 in the AMT line, the error now doubles to $4480.
The system thinks you are entitled to zero depreciation. You need to review all your entries for the mileage that you entered for the year to be sure that it equals 50% of the total usage.
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