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brieanna-baker22
February 6, 2025
Question

what is the excess basis on the car and truck expenses worksheet

  • February 6, 2025
  • 1 reply
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    1 reply

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    SabrinaD2
    February 6, 2025

    The excess basis on the car and truck expenses worksheet is the amount by which the adjusted basis of the vehicle exceeds the depreciation allowed or allowable. This can occur if:

    • The business use percentage changes over time.
    • There are adjustments to the vehicle's basis due to improvements.
    • The excess basis is carried forward to future years.

     

    For more details, check out Intuit Help 

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