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It depends. If you did sell or trade the car, and if it was used as a deduction on your returns prior to that, then you would have had a taxable event in 2023. If you junked the car with no dollars exchanged, there may still be a possible loss for the business use percentage.
In 2024, if you did not use the car for any business purpose, then you can delete this asset under the rental or business activity where it was used. If you are using TurboTax Online you can use the steps below.
Always use extreme caution when deleting information from your tax return. There could be unintended consequences.
If you're using TurboTax Desktop software and need to delete a form, click here.
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