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Level 1
June 6, 2019
Question

I use a van for two different businesses. I sold the van. Do I report the sale under both businesses?

  • June 6, 2019
  • 1 reply
  • 7 views
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1 reply

Carl
Level 11
Level 11
June 6, 2019

If you've been claiming the van as a business asset for both businesses, then you have to report the disposition of that van on the tax return for both businesses. You'll split your cost/gain/loss between the two businesses.