TaxMonkey
Level 8
06-23-2024
01:25 PM
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Over the lifetime of the vehicle business use was 4.65% (6335/136353)
Business basis = 22,000 x 4.65% = 1022 less depreciation 1774 = 0 adjusted basis
Proceeds from the sale 6500 * 4.65% = 302 gain, since business basis would be reduced to zero.