I traded in a business vehicle I use in a partnership in which I only use it around 10% for business use. starting in 2018 I believe u have to show this on form 4797(no like-kind exchange). I purchased the vehicle for 54,495.00, took 1200.00 for depreciation and they gave me 30k for trade in. that shows around a 23k loss. that sure seems high for just using vehicle for 10% business use.
there was no where on my software for how much I used it for business. I entered purchased price, depreciation and sale price and that what the software came up with. is that right?