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New Member
posted Apr 10, 2021 6:06:48 PM

Do i need to record sale of car for $500, if i didn't use it in 2020 for partial business use, to drive to my 2 rentals

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1 Replies
Expert Alumni
Apr 11, 2021 7:20:13 AM

You do need to report it if you used it prior to 2020 for your rentals. Your depreciation has lowered to basis, and it should be reported.