Auto Trade in details

[glenlaflamme]

I have traded in a car that i used partially for business and i am being asked for some details that i dont understand.  Where do i get these values?

[smarttees]

Use your program to refigure depreciation as if you used it 100% for business and insert those numbers....the bottom two you should have from your records.

[Carl]

Since the business use of the vehicle was less than 100% each year, that tells me you took the "per-mile" deduction for each tax year of business use. As you know, the per mile deduction amount changes every year. That amount also includes a portion for depreciation - which as you might guess also changes every year. Tracking down how much of the per-mile deduction is for depreciation for each year of business use is a feat in and of itself. One which I undertook about a year ago. Thankfully, I documented my findings and have it back to 2009. Here ya go.

Standard Business Vehicle Per Mile Depreciation Rate

Year                       Depreciation Amount per business mile driven

2009                                                                       $0.21

2010                                                                       $0.23

2011                                                                       $0.22

2012                                                                       $0.23

2013                                                                       $0.23

2014                                                                       $0.22

2015                                                                       $0.24

2016                                                                       $0.24

2017                                                                       $0.25

2018                                                                       $0.25
2019                                                                       $0.26

[glenlaflamme]

what about the 100% usage numbers, is that a different dollar calculation?

[Carl]

I'm not understanding or comprehending your issue with interpreting what the program is asking for. ***IF*** the vehicle had been 100% business use and the total miles you drove for the year was $12,000 in 2018, then your total depreciation *would have been* $3,000. The figured AMT depreciation *would have been* the same.

But if your business use was less than 100% (which it was according to you) and only 3000 of those miles were actual business miles, then your *actual* depreciation taken in 2018 was $750. More than likely though, for the actual AMT depreciation, the total *AMT* deprecation actually taken was zero. Unless you made millions of dollars in 2018, chances are so nil that you actually took AMT depreciation, it's not really worth pursuing.