In order to dispose of this vehicle from your business that you gave away, you can indicate it was sold or disposed in 2024 for $0. You will still have the vehicle information this year as the last year.
- Navigate to Federal > Wages & Income > Rental Properties and Royalties (Sch E)
- Edit the rental using the pencil icon
- Navigate to Expenses/Assets, Vehicle
- On the screen Let's get some info about this vehicle, check the box I stopped using this vehicle in 2024.
- Continue through the interview, and answer that the sales price was $0.