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Level 3
April 1, 2025
Question

When disposing a 20% use business vehicle using standard mileage, should't the toal amount of depreciation be recaptured?

  • April 1, 2025
  • 1 reply
  • 5 views

Two things:

1) ProSeries is limiting depreciation to basis. But depreciation is greater than basis. Disposition of Vehicles

lines 54 thru 59 isn't working correctly. Lines 56 and 57 Depreciation of any amount gives errors saying "Depreciation too large".

2) Shouldn't all the depreciation be recaptured even if greater than basis?

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1 reply

Level 15
April 1, 2025

@hmosbergea wrote:

Two things:

1) ProSeries is limiting depreciation to basis..

2) Shouldn't all the depreciation be recaptured even if greater than basis?


 

That is correct.

No.

 

If the business percentage varied from year to year, you may have additional problems because ProSeries doesn't take that into account.