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E
ewells1
April 8, 2022
Question

What does it mean by the total basis of all parts must be greater than the cost entered for this portion of the vehicle

  • April 8, 2022
  • 1 reply
  • 0 views

This is on the car and truck worksheet, line 80

1 reply

J
JamesG1
April 12, 2022

In TurboTax Desktop Home & Business, Car and Truck Expenses Worksheet line 80 says 'Total basis of all related parts'.

 

A given asset may have multiple asset entries representing the asset cost basis.  For instance, there could be original purchase cost and the cost of a replacement transmission but both entries refer to the same physical asset.

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