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New Member
posted Jun 6, 2019 5:48:59 AM

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

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1 Replies
Level 15
Jun 6, 2019 5:49:01 AM

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.