Question
Sale of Truck - should 4797 Part III line 22 Depreciation ever be twice the original cost?
Business truck sold for $10,000 in 2020 that was placed in service in 2009 under method 43 MACRS 5-year % Vehicles over 6,000 lbs, no limits. In 2009 the entire $60,000 cost was deducted under section 179. This $60,000 has been carrying forward each year under Regular Depreciation - prior Section 179 expense in black (the values that carry forward each year). In 2017, there appeared a new value under AMT Depreciation of $60,000 under Prior depreciation (MACRS only). Now 4797 p2 (AMT) Part III line 22 depreciation is $120,000. Is there any reason section 179 would be double counted toward lowering the basis or is this most likely a typo on the 2017 depreciation screen?
