Schedule C Vehicle Deleted and New Added or Just change

Yes.  The preferred way to change assets is to dispose of the vehicle on the return.  There are questions automatically in TurboTax that asks whether you stopped using the vehicle for business.  When you answer yes, there are follow-up questions that will walk you through the process.

The best practice would be to dispose of the asset when you are no longer using it. 

To do this in TurboTax,

• from the left menu, select Federal>
• Income & Expenses>
• Self-Employment Income & Expense click Revisit>
• Pick your business and click Edit>
• Scroll down to the expenses to Vehicle and click Edit
• On the Vehicle Summary, next to the vehicle, click Edit
• Check the box for I stopped using this vehicle in 2021

May I ask a follow up for this?

If using the mileage option rather than actual expenses, does this same apply, and in this case, what ultimately gets completed and filed for each vehicle wrt Schedule C?   Would there be an additional page generated for the new vs the disposed of asset (as each is used in 2021?

Thanks!

Sale of a business asset could create several pages, starting with form 4797. The issue is that people used to trade in a business vehicle for another and the trade was reported on sch C. Now, you must complete the disposal of one vehicle and enter the new separately. Any gain or loss should be reported on the vehicle sold. 

@sjjestewart