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rmarquet
New Member

My wife closed a personal business in 2019. Turbotax self-employed seems to think we sold our personal automobile as a result of that closure, but we didn't.

 
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1 Reply
RobertG
Expert Alumni

My wife closed a personal business in 2019. Turbotax self-employed seems to think we sold our personal automobile as a result of that closure, but we didn't.

If you have been claiming Vehicle Expenses in your Business, you need to Edit that section and indicate that you 'stopped using the vehicle for business' and enter the date.

 

There are usually no tax implications, as the Sales Price is $0 if you converted the Vehicle to 100% personal use.

 

This question was previously answered by MarilynG

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