Curious...if a customer sells a vehicle that had widely varying business use -in this case it ranged from a low of 15% to a high of 85% over the life of the vehicle, do you calculate the total business miles to total miles to calculate the gain loss on the vehicle when it is sold? I think my program is using the last year figures only...that can't be right.
Doesn't end up making a difference on the return I'm doing...the client traded-in the vehicle so I get to compute the 8824 argghh. And on that note...if they want to switch to standard mileage do I treat it as a sale of the old vehicle or do I do the 8824, compute new basis and then do standard miles...
Doesn't end up making a difference on the return I'm doing...the client traded-in the vehicle so I get to compute the 8824 argghh. And on that note...if they want to switch to standard mileage do I treat it as a sale of the old vehicle or do I do the 8824, compute new basis and then do standard miles...
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