bebop
Level 3
03-22-2023
05:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Schedule C client disposed of a vehicle. Vehicle cost 4900 and was fully depreciated in 2021. Car & truck worksheet shows an error in disposition section line 55, that depreciation allowed of 4900 is too large. Form 4797 page 2 line 21 shows basis as 0. But the car & truck worksheet line 31 shows basis as 4900. Any ideas why the basis is not flowing through to 4797 correctly?
Best Answer Click here
Labels