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Why do I have to fill out a sales form for a business vehicle that broke down and is not longer used? I did not sell it. I just can't use it.

The vehicle is beyond repair, but I have not salvaged it yet.  But I still own it.  I entered that I stopped using it, and the online Turbotax wants me to fill out a Form 4797 p1, to report it sold.  Why do I need to fill this out if I have not sold it?

1 Best answer

Accepted Solutions
RyanH2
New Member

Why do I have to fill out a sales form for a business vehicle that broke down and is not longer used? I did not sell it. I just can't use it.

Follow the steps below to remove Form 4797, and then make sure you have correctly answered your vehicle deduction questions.

To Delete Form 4797:

1. Go to "My Account" in the top right corner

2. Select "Tools"

3. Under "Tools Center" select "Delete a Form"

4.  Navigate to "Form 4797" and select "Delete" next to it

To Access Your Business Vehicle Info:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Edit" next to your business name

5. Scroll down to Business Expenses

6. Now select "Update" next to "Business Vehicle Expenses"

7. Continue through the interview questions, making sure you accurately re-answer

NOTE: If you arrive to a screen asking about the sale of the vehicle, leave the boxes blank. Leaving the boxes blank will ensure that info is not included.




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1 Reply
RyanH2
New Member

Why do I have to fill out a sales form for a business vehicle that broke down and is not longer used? I did not sell it. I just can't use it.

Follow the steps below to remove Form 4797, and then make sure you have correctly answered your vehicle deduction questions.

To Delete Form 4797:

1. Go to "My Account" in the top right corner

2. Select "Tools"

3. Under "Tools Center" select "Delete a Form"

4.  Navigate to "Form 4797" and select "Delete" next to it

To Access Your Business Vehicle Info:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Edit" next to your business name

5. Scroll down to Business Expenses

6. Now select "Update" next to "Business Vehicle Expenses"

7. Continue through the interview questions, making sure you accurately re-answer

NOTE: If you arrive to a screen asking about the sale of the vehicle, leave the boxes blank. Leaving the boxes blank will ensure that info is not included.




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