2024 Schedule F Line 31 Cost or Basis line malfunction

[Ekhaterina]

Hello.  I am trying to complete 2024 Schedule F using mileage rather than actual expenses for use of my vehicle.  I have completed the data to enter the mileage, and have entered the amount of the personal property tax for the vehicle at line 26b.  I have always used mileage for this rather than actual expenses.  However, for the first time this year, the software is showing an error at line 31 for cost or basis.  In the past these lines have been left blank because I am not using actual expenses.  What can I do to clear this error on line 31 so I will be able to e-file my extended return successfully using mileage?  I tried just entering a zero on line 31 to clear this problem with the vehicle depreciation information, but then the software expected me to complete many more lines about the vehicle depreciation.  It doesn't look like I can get around the problem this way.  I checked for software updates, but there weren't any.

Thank you!

[IRonMaN · Accepted solution]

Did you check the box on the vehicle worksheet that says use standard mileage rate?

[Just-Lisa-Now-]

Yea, that started after an update in the last couple of months, but I think it should have always been required, if they eventually sell that business use vehicle,  youd need that basis amount anyhow, even if youre not using it for anything in the current year.

[Ekhaterina]

Thank you so much, IRonMaN for the quick response.  I guess I forgot about that standard mileage box.  Since I did forget about it, you saved me from a lot of time that would have been lost trying to figure out what was wrong.

[Ekhaterina]

Thank you, Just-Lisa-Now-!  I completely forgot about that box, and missed it somehow in my entries.  Everything is working perfectly now after checking the standard mileage box.