- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you for your responses, I appreciate it. Here is more information about what I am trying to achieve. The car was purchased in 2016 as a used car for $25164 and used part time for business. It was sold in 2019 for $6500. The depreciation schedule is as follows:
Year Total Miles Total Business Miles Depreciation rate Deemed or Actual Depreciation
2019 1276 1144 .26 297
2018 8204 2284 .25 571
2017 9683 3486 .25 872
2016 9787 3250 .24 780
The business percentage was 35% which resulted in
Sales Price $2,282
Original Basis $8,835
Less depreciation $2,520
Adjusted business basis $6,315
Loss -$4,033
I am looking for the screen to put the loss of -$4,033 unless I am missing something here.
Thanks