Vehicle used for rideshare was totaled by insurance mid year, confused on how to input that under the vehicle section in my deductions

[Flippy]

I'm a full time rideshare driver, I financed a used 2019 Chevy on 7/11/2023 with 31k miles and put in service on 7/12/2023. I claimed standard mileage on my 2023 & 2024 taxes. 5/30/2025 with 105k miles the Chevy was caught in high water during a monsoon of a rain storm and insurance deemed it a total loss.

The sticker price was $21,434 but total financed amount was $30,278. Personal auto insurance paid $11,423 ACV directly to the finance company and GAP Insurance paid the balance of $9,566 on the loan directly to the finance company.

I have not replaced the vehicle yet, rather renting week to week from a company that rents for rideshare workers. I'm confused on how to proceed with filing as the only options I have to choose from are : 

- Started using as personal vehicle 100% of time

- Percentage of business use varied over the years

- Gave it away as a gift 

- None of theses

I don't know how to determine sale price when all the money paid by insurance went directly to the finance company and the vehicle went to a salvage auction when the insurance company took possession of it.

Total mileage use of vehicle for business purposes was 94% over the three tax years

- 2023 92.5%

- 2024 90%

- 2025 93.5%

[AmeliesUncle]

I can't guide you through everything, but I'll start off with a few thoughts:

• TurboTax does not deal with items that vary in business percentage, so you'll need to need to manually do some calculations.
• It looks like your total purchase price was $21,434 and your total sales price was $11,423.
• Those numbers will need to be manually split between personal and business, as well as you'll need to manually calculate the depreciation portion of the Standard Mileage Rate.
• If you plan on purchasing a new vehicle to replace it, in your specific case I strongly suggest an "Involuntary Conversion" is what you want to do. I am unsure if TurboTax handles that, or if it does, how to do it.  This can potentially avoid a lot of tax.
• If you don't plan on replacing the vehicle, or if you don't make the Involuntary Conversion election, you'll be adding about $10,000 of income to your tax return.

[Flippy]

For now I am renting while I can save up a down payment for a replacement vehicle as all of the insurance payments were sent straight to the loan company.