d9085

Hello..I am using Turbo Tax 2004. I sold an Areostar in june 2004 and picked up a New 2003 Grand Caravan. I used the Aerostar for business and pleasure(my rentals) & used the standard mileage deduction for all the years I owned it. Now because I sold the Aerostar Turbo Tax is asking for me to do the depreciation equivalent.
Here is what it asks:

OLD VEHICLE

Enter the depreciation equivalent of your standard mileage deduction for eeach year including 2004. The amount for AMT should be the same as the amount for regular tax unless you used the actual expense method for any year.

Depreciation Equivalent [ ]

AMT Depreciation Equivalent [ ]

Here are the instructions to go with it:

Depreciation Equivalent To determine the amount to enter for depreciation, multiply your business mileage for each year you used the standard mileage rate by the amounts below. Use these standard amounts for both your regular tax depreciation and your AMT depreciation. However, the total amount you enter cannot exceed the depreciable basis of the vehicle.

Remember, if you used the actual expense method ian any year, you must use the depreciation computed for that year instead of the mileage amounts.

2004........16 cents

2003........16 cents

2002........15 cents

2001........15 cents

2000........14 cents

1994-1999...12 cents

MY QUESTION IS:

DO I TAKE THE MILEAGE FROM 1995 TO 2004 AND MULTIPLY TIMES THE RATE ABOVE AND ADD THEM TOGETHER? OR JUST FROM 2004? WHAT DO I DO FOR THE AMT?

Thank you to anyone who can help!