ejbrk
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Sorry I misread part of the previous reply, I thought you were saying trade in value was NOT sale value... But anyways, I'm getting conflicting information here...
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Victor, Can you clarify why trade in value is not the same as sale value? I read another thread on these forums where an "expert" specifically said they were th...
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Also, I am still unclear if I'm supposed to enter the full FMV of $1500 and assume TT will calculate the biz percentage, or if I need to enter just the business...
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The prompt from Turbo Tax specifically says 2019 has been calculated for me and not to include it when figuring prior depreciation...
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Ah, I see. I did not realized the value was also being multiplied by the business use percentage In this case I suppose the gain is the same either way, but fo...
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- Got Cheered for Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss?. April 18, 2022 1:00 AM
- Got Cheered for Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss?. April 18, 2022 12:58 AM
- Got Cheered for Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss?. April 18, 2022 12:57 AM
- Posted Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 11, 2020 1:39 PM
- Posted Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 11, 2020 12:50 PM
- Posted Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 11, 2020 12:24 PM
- Posted Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 11, 2020 12:22 PM
- Posted Re: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 9, 2020 11:45 AM
- Posted Tax Year Prior to 2020: Sale of biz vehicle showing as a (taxable) gain and should be a loss? on Business & farm. February 9, 2020 9:46 AM