Disposition of vehicle w/100% bus use w/Std mileage from begging to disposition. This was discussed on this message board before but I cannot locate it. I located this website:
http://www.smbiz.com/sbrl003.html#smr Page down to: Depreciation Adjustment for Standard Mileage Rate
If these amounts are correct, my calculation & process is correct for each year, my Sch C filer accumulated depreciation for the last 3 yr that exceeds his cost basis. I would assume this is the same as taking S/L (5yrs) depr on a vehicle then disposing/selling (no trade in) the vehicle at 10% of cost basis.
Does the TTB address this and if so what page?
http://www.smbiz.com/sbrl003.html#smr Page down to: Depreciation Adjustment for Standard Mileage Rate
If these amounts are correct, my calculation & process is correct for each year, my Sch C filer accumulated depreciation for the last 3 yr that exceeds his cost basis. I would assume this is the same as taking S/L (5yrs) depr on a vehicle then disposing/selling (no trade in) the vehicle at 10% of cost basis.
Does the TTB address this and if so what page?
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