Form 2106, line 47: the amount calculated is 759. I donated my car at a value of $490. T-tax says depreciation allowed is too large, but it is what was calculated. Help!!

[oturbohaus]

My car was old: a 1991 VW Golf. I was only able to get a donation value under $500. But the gain/loss basis calculated was $759. Here's the bad part. When I went back and calculated the depreciation through the 53.5 cent per mile calculation, I ended up with $321 on the depreciation allowed (line 47). The error message that this amount couldn't exceed the basis, but the basis is $490. Last time I looked, 321 is less than 490. What is going on?

[Critter]

Instead of "selling" the car in the vehicle section just say it was converted to personal use (which is was and then you personally donated it). 

[oturbohaus]

This did nothing to change the problem. In fact, I didn't say I sold the car, I said I gave it away. However, I did try the suggestion. Nothing changed, still have the error.

[Critter]

Try deleting the car  and  then put it back in .


If you still need help it  may be best for you to talk in real time to TT Customer Support . They can even screen share with you if necessary to see what is going on.    
Here's how to be assigned a phone number to the proper department at TT Customer Support during the business hours shown below (it will not display when they are closed).

1) Go to <a rel="nofollow" target="_blank" href="https://support.turbotax.intuit.com/contact/">https://support.turbotax.intuit.com/contact/</a>
2) Choose the product platform you are using.
3)  Ask a question or keywords without quotes, and Submit.
4)  On next page, skip the suggested articles if they don't help.
5) Scroll down, and you should be able to enter the Support module to get a phone number. (That will be grayed out when they are closed).