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SH1957
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STARTING A USED CAR DEALERSHIP

Started repairing and selling used cars early in 2020 as individual. Later obtained Dealer License in September - as sole owner.

Do I show 2 separate businesses or do I include all income/expense in one business?

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2 Replies
M-MTax
Level 10

STARTING A USED CAR DEALERSHIP

sounds like the same business except for the license.

AlanT222
Expert Alumni

STARTING A USED CAR DEALERSHIP

Agreed that it would be the same business.  

 

Since you are a sole proprietor, you would use either TurboTax Self-Employed or TurboTax Home and Business

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