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Vehicle sold that was used for a business on a Sch C, the standard mileage deduction was always taken in the prior yrs. How do U report the 25 equivalent depreciation ?

Level 1
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Level 15

I'm not sure what the *25 equivalent* means, but you do need to compute the depreciation component of the business miles over the years & reduce the business basis by that amount to determine the gain/loss on the disposition.

CFS TaxTools has a great module for computing the depreciation component.

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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Level 8

Look up the depreciation component for each year of business use and multiply that amount by the number of business miles, not to exceed the basis and that is the prior depreciation.