How to input Car converted to personal use when standard mileage rate had been used?

[elintx]

Sole proprietor closed her business at the end of 2018.  She had a new vehicle in 2017 that took the standard mileage rate rather than set up as an asset to be depreciated.  The vehicle was converted to personal use at the end of 2018.  I read that I need to show the disposition date and include the amount of depreciation that's included in the standard mileage rate (25 cents per mile for 2017 & 2018) and show it on Ln 56 which I did but I'm getting an error message that the amount can't be more than the vehicle's basis.  So I input vehicle's cost on Ln 34 and got an error message.  Then I tried $0 and also the amount of the "allowable" depreciation and still got an error message.  I'm at a loss on how to include the "allowable" depreciation that was included in the standard mileage rate that has been taken.  Help!

[IRonMaN · Accepted solution]

As long as she hasn't sold it, there is nothing to worry about.  Converting a business asset in a sole proprietorship to personal use isn't a taxable event.  However, her basis in the car is reduced by "depreciation" in the event she does sell it.

[elintx]

So I don't need to input anything on Ln 30 Cost, Ln 34 Prior Depr, Ln 36 AMT Depr but I do need to input the disposition date on Ln 47 so it won't show up on next years return?

[Just-Lisa-Now-]

just put the disposition date with nothing else, that removes it for the next year and doesn't trigger any sales details.

[elintx]

Called ProSeries help and they are STUPID!!!  The girl didn't know anything about how this should work.  I was educating her about no gain/loss on personal conversion and that when you take the standard mileage rate rather than actual expenses you don't set the car up as an asset to be depreciated.  I'm disgusted with ProSeries and will not use it next year!

[sjrcpa]

Most of the time you get better, quicker answers here.