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why am i getting an error message for cost basis of a mileage method business vehicle

Clive2
Level 1

have a business vehicle using the mileage method.  receiving an error message where the tax package wants me to enter the cost basis of the vehicle

 

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3 Comments 3
George4Tacks
Level 15

Make the poor, sad program happy and enter the the basis! We have to learn to live with each other and put up with the foibles of our new friends. 


Answers are easy. Questions are hard!
Greta
Level 9

I had that issue as well. I went to line 23 and checked the box that said "standard mileage" and that got rid of the pink request for cost basis

TaxGuyBill
Level 15

The stupid update did that error.

As Greta said, most people are reporting to checking the box to 'force' the Standard Mileage Rate will get rid of the error.

 

Although in my opinion, it is ideal to have the Basis.  You'll need it for whenever the vehicle is disposed.